EUR/USD – follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
Price gave us the dip and the bullish cs formation we
were looking for, but the trade never had a good risk/reward ratio. Price went
on to take out the 3163 high as per analysis. This time frame has now started
the reversal process.
FOR TODAY:
With reversal underway, we are now looking to buy at the
618/786 of this AB swing once we have confirming cs formations. We look to sell
after price hits the BF786 with confirming cs formations.
If we don’t get the cs formations we are looking for then
we don’t trade.
SHORT: WILL
ONLY BE GOING SHORT IF:
We will only consider short trade setups if we get
bearish cs formation after hitting the BF786. Stop will be 13 pips above the cs
formation, max 1% risk. Limits defined at entry.
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 price to retrace down to the 618/786 of this
swing. Place stop 10 pips below the low
of the cs formation, max 1% risk. Limits defined later.
If we don’t get the setup we are looking for then we
don’t trade.
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