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 last Monday giving us a new AB swing. Price rallied to A swing high,
albeit a small swing high, but never broke it. Price has since fallen back and at present we
are in no man's land on this chart. We need a rally and a bearish cs for a sell
entry, or down at the BF786 for a buy entry, both after cs formations.
We have a more significant high at 4149, then 4283.
SHORT: Will be
going short only IF:
Since price failed to take out the A high, if we get a rally
and a bearish cs formation we will take that short entry with stop above the cs
formation, max 50 pips and the limit will be a ST down to the BF786.
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 A high. Stops below the low – max 50
pips stop.
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