EUR/USD
No Trade setup on EUR yesterday.
We are still in a downtrend on the 1H chart. We have a B
low that formed Monday giving us a new AB swing. Price rallied to A swing high
yesterday – albeit a small swing high, but never broke it. We will look to sell
if we get there today and then get a bearish cs formation. If we take it out we
will be starting a reversal on the 1h time frame.
We have a more significant high at 4149, then 4283.
Else long trade setups are only considered once we get to
the BF786 and price gives us a bullish cs formation, or if we take out the
swing high and start a reversal on this timeframe.
SHORT: Will be
going short only IF:
We get a test of the highs of yesterday which is also a
small swing high and then a bearish cs formation; trade it as a ST down to the
BF786. Stops above the cs formations, 50 pips max.
If we don’t get the cs formations we are looking for then we don’t trade.
LONG: Will be
going long today only IF:
Price gets down to the BF786 and then gives us a bullish
cs formation. Trade this as a PT to the 786. Stops below the low – max 50 pips
stop.
Else if price takes out the 3935 highs we will then be
reversing on this timeframe, we then have to wait for a new B to form and start
all over again.
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