EUR/USD – follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
Price bounced off the 786 of the AB swing yesterday but
never gave us a clear entry. It went on to rally and test the BF786, where price has just formed a bearish cs formation.
FOR TODAY:
We have entered short on this bearish cs formation.
Long trades are considered down at the 786/86 only, so no
long setups at present.
If we don’t get the setup we are looking for then we
don’t trade.
SHORT: WILL
ONLY BE GOING SHORT IF:
We are in the short setup since we have a bearish cs formation
after a BF test. Stop is 13 pips above the cs formation, max 1% risk. Limits will
be down at 2410.
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 786/86 of this AB swing
and then give us a bullish cs formation. This will be considered a DD entry –
its far away for now so probably not a trade setup today.
If we don’t get the setup we are looking for then we
don’t trade.
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