EUR/USD
We lost 50 pips Friday with the BF786 long entry, price gave us another bullish cs formation but the stop was too big.
Price rallied shy of the 786 on Friday. We now looking for a test of that level today before resumption of downtrend. We will look to sell a bearish cs on a test of the highs. Else if price continues up and takes out the A high then we will be reversing on the 1h chart.
SHORT: Will be going short only IF:
We get a small rally and then a bearish cs formation. Trade this as a PT to the BF786.
LONG: Will be going long today only IF:
We get down to the BF786 and then a bullish cs formation, trade this to the A high since we had a 786 prior. This will be a PT.
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