EUR/USD
We got stopped out of the Wednesdays trade with 100 pips profit. We did get a DD at the786/86 yesterday but the cs formation had too big a stop to take.
Price fell and bounced again off the 786/86 level yesterday giving us a DD scenario. We need a test of that cs today and another bullish cs formation to confirm the rally towards the B high.
Short trades are only considered up at the 4360 area after bearish cs formations. Else if price just falls through the A low we then have a reversal taking place on the 1hour chart.
SHORT: Will be going short only IF:
Price rallies and gives us a bearish cs formation higher up around the 4360, trade this for 100-150 pips since we are largely sideways in a big range from 4400-4100.
LONG: Will be going long today only IF:
Since we had a DD yesterday again, we are looking for a test of that cs formation. If price falls and gives us a bullish cs formation, trade that for 100-150 pips.
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