EUR/USD
No trade setup on EUR yesterday.
We are still in the bull AB swing on the 1H chart. We are at the 618, with the 786 lower down at 4320. A clear bullish cs here will initiate a long trade setup, else lower down at the 786, if we get a bullish cs formation there we will go long, we also have good cs support at that level.
We can only sell up at the BF786 which is way up, so no shorts at present.
SHORT: Will be going short only IF:
Price rallies to the BF786 and gives us a bearish sc formation, trade this as a PT to the 786, stop above the cs formation – 50pips max.
LONG: Will be going long today only IF:
We get either:
1. We get a clear bullish cs formation from current levels- trade for a 60 pip limit.
2. A dip to 4326/4320 – where we have a double bottom and a 786, if we get a bullish cs formation here its telling us that price is holding at this level. Trade this as a PT to the BF786.
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