EUR/USD – follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
Price took out the A high on Friday starting the reversal
process on this time-frame.
FOR TODAY:
We now have to wait for a retracement to the 618/786 of
this AB swing followed by bullish cs formations for long entries.
Short trades are considered on a test of the BF786
followed by bearish cs formations.
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 rally to test the BF786 and give us
bearish cs formation for a short entry setup. 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
We need price to retrace to the 618/786 of this AB swing
and then give us a bullish cs formation. Place stop 10 pips below the low,
limit defined at time of entry.
If we don’t get the setup we are looking for then we
don’t trade.
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