EUR/USD
Price gave us the dip and the bullish engulfing candle we
were looking for yesterday at 10h00 GMT. Entered and was limited out at 100 pips profit.
Today we have another DABF786 trading day where we are
looking for price to extend its rally towards 3700. We will look to enter on
dips towards 3700.
(Since our ranges are wider these days we could consider
widening our limits to 80 pips per trade.)
SHORT: WILL
ONLY BE GOING SHORT IF:
We need price higher up at the 618/786 of this AB swing
before we can consider going short. We then bearish cs formations as
confirmation of our short entry. Trade the stop above the cs formation, 50 pips
max, and limits for a 618 will be 80 pips and the BF786 will be a ST to the
BF786.
If we don’t get the cs formations we are looking for at
the fib levels then we don’t trade.
LONG: WILL ONLY
BE GOING LONG TODAY IF:
We have another DABF786 trading day, so we are looking
for dips to buy into with our stops below the cs formation. Price is already
falling, so any clear bullish cs formation here would serve as a long entry.
Else if price continues down, we will look for a bullish
cs formation at the BF786. This would be a ST to the 618 up at 3716, since we
have 50 prior - stops below the cs
formation, max 50 pips.
If we don’t get the cs formations we are looking for then
we don’t trade.
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