EUR/USD – follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
No trade setup on Euro yesterday, still waiting for an
established B swing low to form.
FOR TODAY:
Price fell yesterday and we are still waiting for a
decent B swing low to form, looks like 2813 might become the low, will wait and
see in today’s session. Once we have the low we can draw fibs to establish
where we have a 618/786 for a short entry.
Long trades are not yet considered
since we don’t have the setup in place for long trades.
If we don’t get the setup we are looking for then we
don’t trade.
SHORT: WILL
ONLY BE GOING SHORT IF:
We first need a swing low to form, then we need price to
retrace up to the 618/786 of this AB swing, followed by confirming bearish cs
formations for short entries. Place stop 13 pips above 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.
LONG: WILL ONLY
BE GOING LONG TODAY IF
No long trade setups at present.
If we don’t get the setup we are looking for then we
don’t trade.
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