EUR/USD
Price gave us the bearish cs formation we were looking for yesterday, entry at 3829, lets see if this will wind up being a good ST to 3438- 618 on daily chart. Add to the position by selling rallies. Price fell during Asian session and we are at the BF786 territory so watch out for a bounce at this level.
FOR TODAY:
Price is currently at the BF786 territory, with the bearish cs formation yesterday and the short entry we are looking for price to continue down today. We will look to sell rallies after bearish cs formations.
SHORT: WILL ONLY BE GOING SHORT IF:
We get a rally and a bearish cs formation. Trade this down to the 618 at 3438 on the daily chart. Stops above the high of the cs formation.
If we don’t get the cs formations we are looking for then we don’t trade.
LONG: WILL ONLY BE GOING LONG TODAY IF:
Technically we should be buying bullish cs formations at the BF786, but for now I would use the rally (if we get one) as a waiting opportunity for a bearish cs formation to sell into.
But you can buy bullish cs formations at the BF786 as per normal, just be careful for bearish cs formations, exit and reverse then.
If we don’t get the setup we are looking for then we don’t trade.
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