EUR/USD
No Trade setup on EUR on Friday.
Price dropped on Friday without any entry opportunity. We need a B low formation before we can draw fibs, price just took out the last low so we have to wait at least two hours to see if this is going to be the low. Once we have the low we can draw fibs and see where the 618/786 is, which is where we can sell.
SHORT: Will be going short only IF:
Price rallies to the 618/786 and gives us a bearish cs formation, trade the 618 for 60 pips profit and the 786 will be a PT to the BF786. Stops above the cs formations, 50 pips max.
LONG: Will be going long today only IF:
No long trade setups since we don’t even have a B yet. We are two hours away from that – at least, once we have the B low we then need a swing high which will be a few hours away again. So chances are there will be no long setups according to our system today.
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