EUR/USD
Price rallied and took out the A high doing a reversal on the 1h chart on EUR. We now need a decent B high swing to form in order to draw fibs to ascertain where the 618/786 will be for long entries.
FOR TODAY:
We have to wait for a B to form. We are interested in buying down at the 618/786, but first we need a swing high.
SHORT: Will be going short only IF:
No short setups today since we would need a BF786, and we don’t have a swing high after a B high, so no BF786 short entries today.
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 first need a B to form, then draw fibs and wait for price to fall to the 618/786 for a long trade setup. Doesn’t look like it will be in today’s session. Lest wait and see.
If we don’t get the setup we are looking for then we don’t trade.
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