EUR/USD
Price gave us the bullish engulfing candle we were
looking for yesterday, entry at 07h00 GMT.
Could have limited out at 100 pips profit, price came 1 pip shy of the
3690 target, as per my charts.
Today we have another DABF786 trading day where we are
looking for price to extend its rally towards 3700/3716. We will look to enter
on dips towards 3700/3716.
(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 need a clear bearish cs formation 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.
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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