EUR/USD
Price retraced a few pips shy of the 786 yesterday and fell to the B low taking it out by 10 pips, we now have a lower top in place at 3283.
FOR TODAY:
With the lower top in place at 3283, we are looking to sell into rallies after bearish cs formations. We are still looking for a decent swing low to call another B low. At present we don’t have that as yet.
SHORT: WILL ONLY BE GOING SHORT IF:
We need a retracement to the 618/786 and a bearish cs formation for a short trade setup. Stop above the high of the cs formation, max 1.5% risk, limits for the 618 will be 60/70 pips and the 786 will be a ST.
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 have not taken out the low convincingly, we will need a low and a swing high followed by a test of the low and a bullish cs formation for a long trade setup, we have none of that at present, so no long trade setups currently. I will tweet if something develops.
If we don’t get the setup we are looking for then we don’t trade.
No comments:
Post a Comment