EUR/USD
Price gave us a bearish cs formation yesterday, we are around 145 pips in the money at the moment, looking to exit this trade on a test of 4200, reason – we had a 786 bounce again in Asia, that’s two bounces at the 786, a DD, therefore we expect price to rally today.
Stop has been moved to lock in 100 pips profit, so if we get stopped out and get another bearish cs higher up then we’ll take it, but we would have banked 100 pips.
We bounced at the 786 again during Asia with a m/s cs formation, this DD tells us that price will probably rally today. We looking for a test of that cs formation for a long trade setup. Trade that entry for 100 pips profit. Shorts will be considered up higher before or at yesterday’s highs after clear bearish cs formations.
SHORT: Will be going short only IF:
It’s a DABF786 trading day, so we are looking for price to rally and give us a clear bearish cs formation for a short trade entry, but the DD at the 786 during Asia is concerning for our short entry.
LONG: Will be going long today only IF:
Since we had the DD during Asia, we are looking for an entry go long on a test of the DD, trade this for 100 pips since it’s a DD entry.
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