EUR/USD – follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
Price fell after testing the BF786 yesterday but failed
to run to its limit, we exited at zero on that trade.
FOR TODAY:
Price has since rallied to take out the B high giving us
a new AB swing. We have no setups at present.
We need to wait for a retracement to the 618/786 of this
swing for a long entry.
Shorts are considered after 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 test the BF786 and then give us a
bearish cs formation for a short trade setup. Place stop 13 pips above the high
of the cs formation, max 1% risk. Limits will be 60-70 pips.
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.
If we don’t get the setup we are looking for then we
don’t trade.
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