EUR/USD 18 JANUARY 2012

EUR/USD

Price gave us the bearish cs formation, but came shy of the 786, which for me would have been ideal.

FOR TODAY:

Today we have a DA618 trading day where we are looking for price to extend its fall. We will look to sell rallies after bearish cs formations.

SHORT: Will be going short only IF:

We have a DA618 trading day setup, we are looking for price to continue down today, so we will be selling bearish cs formations after rallies. Stops above the high of the cs formation, max 1.5% risk, limits 60 pips.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We need price at the BF786 and a bullish cs formation for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.