EUR/USD
We were stopped out at zero on Thursdays short at 4438.
We have a reversal on the 1H chart since price took out the A high a few minutes ago. We now have a new AB upswing in play. We now need to wait two more hours at least for a new B to form; once we have that we can draw our fibs and look for the 618/786 to buy on bullish cs formations.
The only sell would be a BF786, but that is far off for now since we don’t even have a B yet.
SHORT: Will be going short only IF:
We need a swing and then a BF786 to short, we don’t even have a B yet, so probably not going to happen today.
LONG: Will be going long today only IF:
We get a B to form, then look for the 618/786, buy a bullish cs after price hits the 618/786, limits on the 618 will be 60 pips and the 786 will be a PT to the BF786.
All stops are below the cs formations -50 pips max.
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