EUR/USD
No Trade setup on EUR yesterday. Price fell and took out the B low overnight.
FOR TODAY:
We are now waiting for a new B to form with the A high now up at 3410. Once we have a B we can draw fibs to identify the 618/786. We can only sell at the 618/786, or buy at a BF786. We have neither so we have to wait for the setup to play itself out.
SHORT: WILL ONLY BE GOING SHORT IF:
We first need a B to form, then we can draw fibs and find the 618/786 at which to short after bearish cs formations.
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 first need a B , then a swing high and a fall to the BF786 and then a bullish sc formation. Stop below the low of the cs formation, limit dependent on the prior bounce of the swing high.
If we don’t get the cs formations we are looking for then we don’t trade.
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