EUR/USD – follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
As per yesterdays analysis, price fell initially and bounced
hard off the BF and has since rallied to the 786 of the swing. We entered a
long position as was limited out inside the A high with 71 pips profit.
FOR TODAY:
Price has broken the A high but not on a sustained basis
during the Asian session, we will wait for a more convincing break, probably in
the UK session. Once we have that break we need to wait for a retracement to
the 618/786 for a long entry.
Shorts are not considered 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:
Since we are in the process of breaking the A high, we
will not be considering short positions.
If we don’t get the setup we are looking for then we
don’t trade.
LONG: WILL ONLY
BE GOING LONG TODAY IF
After a sustained break of the A, and once a B high is formed we will need a retracement down
to the 618/786 followed by a clear bullish cs formation for a long trade setup.
If we don’t get the setup we are looking for then we
don’t trade.
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