EUR/USD
No trade setup on EUR yesterday.
Price rallied shy of the 786 on Friday. We had a test of that high yesterday but price failed to follow through on the downside. We will look to sell a bearish cs on a test of the highs. Else if price continues up we will look for a bearish cs after hitting the 786 at 4461, if we don’t get a bearish cs here and price takes out the A high then we will be reversing on the 1h chart.
SHORT: Will be going short only IF:
We get to test the highs and then a bearish cs formation, else a bearish cs formation after hitting the 786 at 4461. 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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