EUR/USD – follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
Price broke the lows yesterday falling and creating a new
B low down at 2357.
FOR TODAY:
With the new AB swing we need price to retrace up to the
618/786 and give us bearish reversal cs formations for short entries.
Long trades are possible if we get a test of the BF786
followed by a bullish cs formation.
If we don’t get the setup we are looking for then we
don’t trade.
SHORT: WILL
ONLY BE GOING SHORT IF:
We need price to retrace to the 618/786 of this AB swing
and give us bearish cs formations at either of those levels. Place stop 13 pips
above the cs formation, max 1% risk. Limits defined at time of entry.
If we don’t get the setup we are looking for then we
don’t trade.
LONG: WILL ONLY
BE GOING LONG TODAY IF
Long trades are considered if we get a clear bullish cs
formation after price tests the BF786. Stops 10 pips below the low, limits 60-70 pips.
Exit on bearish cs formations which might have price driving down again.
If we don’t get the setup we are looking for then we
don’t trade.
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