EUR/USD – follow
me on twitter @fxdailyforecast and www.stocktwits.com/fxg
No trade setup on Euro yesterday, price rallied to take
out the A-3190 high starting the reversal process on this timeframe.
FOR TODAY:
We seem to have a swing high in place at 3264, we now
need to wait for price to hit the BF786 followed by a bearish cs formation for a short trade
setup, or a retracement to the 618/786 of this AB swing followed by a bullish
cs formation for a long trade setup.
SHORT: WILL
ONLY BE GOING SHORT IF:
We need price to test the BF786 followed by a bearish cs
formation for a short trade setup, place stop 13 pips above the high of the cs
formation, max 1% risk, limits for this entry will be 70 pips since it’s a shallow
bounce (at at 06h12GMT).
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 can only buy down at the 618/786 followed by a bullish
cs formation. Stop 10 pips below the low, max1% risk , limits defined at time
of entry.
If we don’t get the setup we are looking for then we
don’t trade.
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