EUR/USD
Price gave us a BF786 and a bullish cs formation yesterday, the trade lost 48 pips. Price then went on to take out the B low giving us a new AB downswing.
FOR TODAY:
We now have a downtrend in place, we should only sell rallies at the 618/786 after bearish cs formations. The new A is up at 326, with the B down at 3008.
SHORT: WILL ONLY BE GOING SHORT IF:
We rally to the 618/786 of this AB swing and then get a bearish cs formation. Stops above the cs formation, the 618 will be a 100 pip limit and the 786 will be a ST to the BF786.
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 don’t have a swing high, so we will not have a BF786 set up in today's session.
If we don’t get the cs formations we are looking for then we don’t trade.
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