EUR/USD
No trade setup on EUR yesterday.
Price was pretty much range bound yesterday finding
resistance still at the 382 of the AB swing. We need price higher up at the 618
for a short trade, or down at the BF786 for a long opportunity.
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 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:
Price gets down to the BF786 and gives us a bullish cs
formation for a long trade setup. If this occurs, place stop below the low of
the cs formation, max 50 pips stop, limit will be 80 pips since it’s a shallow
bounce.
If we don’t get the setup we are looking for then we
don’t trade.
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