Wednesday 16 November 2011

EUR/USD 16 NOVEMBER 2011 UPDATE



EUR/USD 12H00 GMT
Price has formed a swing high and has come back to test the BF786. Will wait to see if we get a bullish cs formation after this test, or if price falls and takes out the low. 


Enter long on a bullish cs formation, stop below the low of the cs formation, max 1.5% risk, limit 100 pips since its a shallow bounce.


If price continues down then we have no trade setup, we need a bullish cs formation inside the B low.

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