EUR/USD
No Trade setup on EUR yesterday. The BF wasn’t valid since we had already broken the lows. Price did rally to the 786 as we wanted, but once again the stop after the bearish cs formation was huge (171 pips) so we passed the trade.
Price went on to take out the B low support at 4037 so we have a new A-4283, B-3971 swing again. We now need to wait for either a rally to the 618/786 and a bearish cs formation for a short entry, or see if price finds a base at the B low and gives us a bullish cs for a long trade setup.
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. Stops above the cs formations, 50 pips max.
LONG: Will be going long today only IF:
We get to the BF786 and get 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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