EUR/USD
We had a BF786 trade short entry setup yesterday which we are still in. We will add to the position on bearish cs formations if we get them today and if we have more than a 50-60 pip difference between entries.
Else if we rally from here and take out the B then we will lose on this trade and continue up.
FOR TODAY:
We will look to see if we get a test of that evening star today and another bearish cs formation since we have a DABF786 trading day today.
Else if price takes out the B high we will have a new AB swing in play and start all over again.
SHORT: WILL ONLY BE GOING SHORT IF:
We get a test of the high and a bearish cs formation after that, trade stop above the cs formation 50 pips max. Limits must be 80-100 pips since it’s a shallow bounce. Only add to the position if difference is 50+pips between two entries.
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:
We get a dip to yesterdays lows and a clear bullish cs formation, trade it for 80 pips since the bulls will probably target the A high. Else if price dips all the way to the BF786 we will look to buy there.
If we don’t get the setup we are looking for then we don’t trade.
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