EUR/USD – follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
No trade setup on Euro yesterday, price fell all the way
to the A low and bounced, this was after our trading session.
FOR TODAY:
With price bouncing out of the A low yesterday, we can
expect price to rally to the BF786 today at least. We will look for a bearish
cs formation circa BF786 for a short entry. Else if price rallies and breaks
the B high at 3284 then we will have a new AB swing in play.
SHORT: WILL
ONLY BE GOING SHORT IF:
If price rallies to the BF786 followed by a bearish cs
formation we will enter a short trade. This will be good for a limit down at
the A low. Place stop 13 pips above the high of the cs formation, max 1% risk.
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 need a dip followed by a bullish cs formation for a
long trade setup, preferably around yesterdays lows, this will be good for a
100 pip rally since it would be a DD entry. Place stop 10 pips below the low of
the cs formation, max 1% risk.
If we don’t get the setup we are looking for then we
don’t trade.
No comments:
Post a Comment