EUR/USD
We are still in at the 4438 short on the bearish cs formation after a test of the highs again.
We got the bearish cs formation yesterday and price fell short of our BF786 limit by 8 pips and bounced. We are looking for continuation of downtrend today towards the BF786. We remain bearish on this chart until the A high is violated.
Else if price rallies and takes out the highs of the last few sessions then it will probably head for the A high, violation here will constitute a reversal on the 1h chart.
SHORT: Will be going short only IF:
We get a rally and a bearish cs formation trade it short with stop above the cs formation and PT it down to the BF786 as well. This is a DABF trading day so we are looking for continuation of the fall to the BF786. Only add to the position if difference between the entries are 50+ pips.
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 an 86 prior. This will be a PT.
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