EUR/USD
No entry on EUR on Friday, we had the dip we were looking for but price never gave us a clear bullish sign that we were going long.
FOR TODAY:
We are still looking for price to extend towards 1.4000, we will still hold the view that we are buying into dips until 1.4000. We are expecting Fridays low to hold, so bullish cs formations inside that low will be a trade opportunity. Else if price violates that low, we still have support at 3650, then 3607.
Else if price falls and takes out the B low at 3607 then we will wait for a new B to form and we will have a new AB swing in play.
SHORT: WILL ONLY BE GOING SHORT IF:
We get a rally and a bearish cs formation after hitting the 618/786. Trade the 618 entry for a limit of 100 pips and the 786 will be a ST to the BF786. Stops above the cs formations, max 1.5% risk.
If we don’t get the cs formations we are looking for at the fibs then we don’t trade.
LONG: WILL ONLY BE GOING LONG TODAY IF:
Today we have a DABF786 trading day where we are looking for continuation of the rally, we are looking for dips to buy into with price heading for 1.4000. Place stops below the low of the cs formation, max 1.5% risk.
If we don’t get the setup we are looking for then we don’t trade.
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