EUR/USD – follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
Price reached the BF786 late in the session yesterday and
has since not given us a bearish cs formation as yet.
FOR TODAY:
With price having rallied pass the BF yesterday and into
Asia it looks like the high at 2667 might be under threat. We will consider selling
on a clear bearish cs formation from current levels or while inside the B high,
but will reverse position on bullish support.
A sustained break of 2667 continues the uptrend on this
timeframe.
Long trades are considered after dips followed by bullish
cs formations since price is being well supported on dips.
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 clear bearish cs formation from current levels
or while inside the 2667 high. Place
stop 13 pips above the high of the cs formation, max 1% risk. Limits defined at
time of entry.
A sustained break of 2667 negates this view and opens the
upside.
If we don’t get the set-up we are looking for then we
don’t trade.
LONG: WILL ONLY
BE GOING LONG TODAY IF
We will buy after dips followed by bullish cs formations.
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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