EUR/USD – follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
Price gave us the bullish cs formation and rallied
yesterday to 2609 as per analysis.
FOR TODAY:
Price has not yet tested the BF786 sell zone of interest
as yet. We will wait for such a test followed by a bearish cs formation for a short trade setup.
A sustained break of 2667 negates this view and continues
the uptrend on this timeframe.
Long trades are considered after dips followed by bullish
cs formations with 2609/19 in mind.
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 a test of the BF786 followed by a clear bearish
cs formation. Place stop 13 pips above
the high of 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
Price has not reached the BF786, so we will buy after
dips followed by bullish cs formations until price reaches the BF. Place stop 10 pips below the low of the cs
formation, max 1% risk. Limit out at 2609.
If we don’t get the setup we are looking for then we
don’t trade.
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