EUR/USD
We had a bullish cs formation at the A low yesterday which we took, entered at 13h00GMT and got stopped out for 50 pips loss. Price then went on to take out the A low.
We are now in a bear AB swing on EUR, price has reversed by taking out the A low. We now need to wait for either a sell up at the 618/786, or a buy down at the BF786. Entries both sides will be via cs formations.
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.
LONG: Will be going long today only IF:
We get to the BF786 and a bullish cs formation. Trade this for a 60 pip limit since it’s a shallow bounce. Stops below the cs formation, 50 pips max.
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