EUR/USD – follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
We exited our short trade setup yesterday with 17 pips
profit when price bounced in the UK session. We reversed and went long and
exited that position with 76 pips profit.
FOR TODAY:
We now have a new AB swing, we don’t have a clear B- swing-high as yet but we do have a B high. Will wait and see this morning if that
remains as the high or if price rallies from here.
We can only buy lower down at the 618/786 of this swing,
or sell a BF786 for which there is no setup for at present.
SHORT: WILL
ONLY BE GOING SHORT IF:
No short trade setup currently on this chart. If
something materializes it will be posted on www.stocktwits.com/fxg, and twitter.
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 will need price to fall to the 618/786 followed by a
bullish cs formation, limits on this trade will be defined if we get this
setup. 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.
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