GBP/USD 9 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

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Price bounced off the 86 initially, and has since bounced thrice with stops too big to trade, we might be having another test of yesterdays low followed by another bullish cs formation.

FOR TODAY:

Today is a DA86 trading day where we will be looking to buy after dips followed by bullish cs formations for limits set at 5697.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We will only consider shorting after a clear bearish cs formation after price hits 5707 or higher.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

Today is a DA86 trading day where we will be looking to buy after dips followed by bullish cs formations. Place stops 10 pips below the low of the cs formation, max 1% risk, limits set up at 5697.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 9 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

EUR/USD – follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We are still in the AB swing with price having bounced off the 382 yesterday. We are still in no man’s land on this pair.

FOR TODAY:

We will wait for a retracement down to the 618/786 of this swing followed by a bullish cs formation for a long trade set-up.

A sustained break of 2442 negates this view and continues the uptrend.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

No short trade setups during the retracement, the trend is up.

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 will wait for a retracement down to the 618/786 followed by bullish cs formations for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 9 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price rallied up to the A high but failed to close above it.

FOR TODAY:

A bearish cs formation from current levels will initiate a short trade setup. A clear sustained break of 1.0602 negates this view and resumes uptrend.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We will look for a short trade setup from current levels since we don’t have a close above the high as yet.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups since we are in the process of a reversal.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 9 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

NZD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price made a slightly lower low which we will use as the B low.

FOR TODAY:

We need to wait for a retracement up to the 618/786 of this swing for a short trade setup. A break of 8162 opens the upside to deeper retracements.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need to wait for a retracement up to the 618/786 of this swing for a short trade setup.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trades since we are in the process of reversing on this pair, maybe only after a break of 8162 we can look for a retracement and a long entry – if it occurs.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 9 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

USDOLLAR - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We have a new AB bullish swing on the dollar index with price having reached the A low of this swing again and has given us a morning star indicating a return deeper into the swing.

FOR TODAY:

Price seemed to have held at the support lows, we will see if we get a rally from current levels higher up.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trades considered at present.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We have a bullish cs formation; look for rallies with limits up at 100.63.

A sustained break of the A low negates this view and opens the downside.

If we don’t get the setup we are looking for then we don’t trade.

FORECASTS AND WEBCASTING

The FX Daily Forecast blog as you know it is in the process of evolving, in the near future the blog will terminate but there will be two options available for those wishing to receive Forex support:

1.       The FX Daily Forecast analysis that you have become accustomed to for more than a year now will become available on a subscription basis. The fee for the daily FX forecast will be US$65 per month. We will be adding a few more currency pairs.

2.       The second option will be LIVE Webcasting for 6 hours per day where the markets are discussed, analyzed at the top of every hour, and trades are called in the room – LIVE. This subscription will include access to the FX daily analysis mentioned above. The fee for this will be US$120 per month.

Would you be interested in either of the two options mentioned above.

Please tick the appropriate box on the right.

Please note that access to the blog ceases mid August, when the new options begin.

Thanks

FX Daily Forecast

GBP/USD 8 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

GBP/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price bounced off the 86 and has also bounced yesterday, we might be having a test of yesterdays low followed by another bullish cs formation.

FOR TODAY:

While above 5564/46 we will be looking to buy after dips followed by bullish cs formations for limits set at 5697. 

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade set-ups.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

While above 5564/46 we will be looking to buy after dips followed by bullish cs formations. Place stops 10 pips below the low of the cs formation, max 1% risk, limits set up at 5697.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 8 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

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We are still in the AB swing with price having fallen off the B high.

FOR TODAY:

We will wait for a retracement down to the 618/786 of this swing followed by a bullish cs formation for a long trade setup.

A sustained break of 2442 negates this view and continues the uptrend.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

No short trade setups during the retracement, the trend is up.

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 will wait for a retracement down to the 618/786 followed by bullish cs formations for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 8 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We are starting a reversal on this pair.

FOR TODAY:

We need to wait for a retracement to the 618/786 of this swing for a short trade setup.

If we don’t get the set-up we are looking for then we don’t trade.

SHORT: Will be going short only IF:

With the start of the reversal we will look for a short trade setup higher up at the 618/786.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups since we are in the process of a reversal.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 8 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

NZD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price broke the A low starting the reversal on this timeframe.

FOR TODAY:

We need to wait for a retracement up to the 618/786 of this swing for a short trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need to wait for a retracement up to the 618/786 of this swing for a short trade setup.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trades since we are in the process of reversing on this pair.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 8 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

USDOLLAR - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We are still in the AB bullish swing on the dollar index with price having reached the A low of this swing.

FOR TODAY:

Price seemed to have held at the support lows, we will see if we get another test of it or if just rally from current levels higher up.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trades considered at present.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking to buy after dips followed by bullish cs formations. Limits here will be up at 100.63.

A sustained break of the A low negates this view and opens the downside.

If we don’t get the setup we are looking for then we don’t trade.

FORECASTS AND WEBCASTING

The FX Daily Forecast blog as you know it is in the process of evolving, in the near future the blog will terminate but there will be two options available for those wishing to receive Forex support:

1.       The FX Daily Forecast analysis that you have become accustomed to for more than a year now will become available on a subscription basis. The fee for the daily FX forecast will be US$65 per month. We will be adding a few more currency pairs.

2.       The second option will be LIVE Webcasting for 6 hours per day where the markets are discussed, analyzed at the top of every hour, and trades are called in the room – LIVE. This subscription will include access to the FX daily analysis mentioned above. The fee for this will be US$120 per month.

Would you be interested in either of the two options mentioned above.

Please tick the appropriate box on the right.

Please note that access to the blog ceases mid August, when the new options begin.

Thanks

FX Daily Forecast

GBP/USD 7 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

GBP/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price bounced off the 86 and has also bounced yesterday, we might be having a test of yesterdays low followed by another bullish cs formation.

FOR TODAY:

Today is a DA86 trading day where we will be looking to buy after dips followed by bullish cs formations for limits set at 5697. We seem to be getting that bounce that we are looking for.

If we don’t get the set-up we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade set-ups.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

Today is a DA86 trading day where we will be looking to buy after dips followed by bullish cs formations. Place stops 10 pips below the low of the cs formation, max 1% risk, limits set up at 5697.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 7 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

EUR/USD – follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We are still in the AB swing with price approaching the B high.

FOR TODAY:

We will wait for a retracement down to the 618/786 of this swing followed by a bullish cs formation for a long trade set-up.

A sustained break of 2442 negates this view and continues the uptrend.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

No short trade set-ups during the retracement, the trend is up.

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 will wait for a retracement down to the 618/786 followed by bullish cs formations for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 7 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price has taken out the B resistance high, our A is down at the same place virtually.

FOR TODAY:

We now need to wait for a retracement to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

With the break of the B high and the uptrend, we will not be looking for short trade setups today.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We need to wait for a retracement to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 7 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

NZD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price broke the B high giving us a new AB swing.

FOR TODAY:

We need to wait for a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade setups at present.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We need a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 7 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

USDOLLAR - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We have a new AB bullish swing on the dollar index with price having reached the A low of this swing.

FOR TODAY:

Price bounced off the A low of this swing, we will to see if the low holds and price rallies, or if it gets broken starting a reversal on this timeframe.

 If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trades considered at present.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

Price bounces off this level, we are looking for another test of the lows followed by a clear bullish cs formation. Limits here will be up at 100.63.

A sustained break of the A low negates this view and opens the downside.

If we don’t get the setup we are looking for then we don’t trade.

FORECAST AND WEBCASTING

The FX Daily Forecast blog as you know it is in the process of evolving, in the near future the blog will terminate but there will be two options available for those wishing to receive Forex support:

1.       The FX Daily Forecast analysis that you have become accustomed to for more than a year now will become available on a subscription basis. The fee for the daily FX forecast will be US$65 per month. We will be adding a few more currency pairs.

2.       The second option will be LIVE Webcasting for 6 hours per day where the markets are discussed, analyzed at the top of every hour, and trades are called in the room – LIVE. This subscription will include access to the FX daily analysis mentioned above. The fee for this will be US$120 per month.

Would you be interested in either of the two options mentioned above.

Please tick the appropriate box on the right.

Please note that access to the blog ceases mid August, when the new options begin.

Thanks

FX Daily Forecast

GBP/USD 6 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

GBP/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price bounced off the 86 and has since rallied, we need a break of 5678 to continue up.

FOR TODAY:

Today is a DA86 trading day where we will be looking to buy after dips followed by bullish cs formations for limits set at 5697.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade set-ups.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

Today is a DA86 trading day where we will be looking to buy after dips followed by bullish cs formations. Place stops 10 pips below the low of the cs formation, max 1% risk, limits set up at 5697.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 6 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

EUR/USD – follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price reversed twice since our last session on Thursday. We now have a new AB bullish swing.

FOR TODAY:

We will wait for a retracement down to the 618/786 of this swing followed by a bullish cs formation for a long trade setup.

A sustained break of 2442 negates this view and continues the uptrend.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

No short trade setups during the retracement, the trend is up.

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 will wait for a retracement down to the 618/786 followed by bullish cs formations for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 6 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We are in a bullish AB swing with a bounce at the A low, with price having reached the area of resistance where failure is sought.

FOR TODAY:

We expect price to run out of steam circa the B high. We are looking for a clear bearish cs formation for a short trade setup.

If we don’t get the set-up we are looking for then we don’t trade.

SHORT: Will be going short only IF:

Shorts will be considered after a clear bearish cs formation with targets down at the 1.0445 area. 

A sustained break of 1.0579 negates this view and continues the uptrend.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups at present.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 6 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

NZD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We have a new B high for the AB swing.

FOR TODAY:

We need to wait for a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade setups at present.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We need a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 6 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

USDOLLAR - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We have a new AB bullish swing on the dollar index with price having reached the 86 of this swing.

FOR TODAY:

Price bounced off the 86 of this swing, we are looking for price to rally, maybe after another test of the lows.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trades considered at present.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

Price bounced off the 86 level, we are looking for another test of the lows followed by a clear bullish cs formation. 

If we don’t get the setup we are looking for then we don’t trade.

GBUSD 2 AUGUST 2012

GBP/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We are still in the bullish AB swing on this pair, price reached the 786 overnight.

FOR TODAY:

We are looking for a test of the 786, or lower down while inside the A low, followed by a bullish cs formation for a long entry.

If we don’t get the set-up we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade set-ups until we start the reversal process.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking for a test of the 786, or lower down while inside the A low, followed by a bullish cs formation for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 2 AUGUST 2012

EUR/USD – follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price tested the 618 yesterday and fell but didn’t not sustain the fall beyond the B low.

FOR TODAY:

Today we will look to see if the B low gets broken, or if we find support at the B low again for a rally.

A sustained break of 2389 negates this view and continues the uptrend.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

We get a rally followed by a clear bearish cs formation for a short entry. Place stop 13 pips above the cs formation, max 1% risk. Limits 70 pips for the 618 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

Price finds support at the B low and bounces off that level, price will then be heading for 2344.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 2 AUGUST 2012

AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We now have a B swing high for the AB swing.

FOR TODAY:

We will need to wait for a retracement down to the 618/786 of this swing for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No shorts are considered during the retracement.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking for a retracement down to the 618/786 of this swing for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 2 AUGUST 2012

NZD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We have a new B high for the AB swing.

FOR TODAY:

We need to wait for a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

Because we had a small swing high followed by a fall to take out interim support, we will consider selling a clear bearish cs formation if price rallies deep into the B high and reverses.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We need a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 2 AUGUST 2012

USDOLLAR - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price rallied to the 50 of the AB swing.

FOR TODAY:

We are now looking for a retracement deeper towards the 618/786.

If we don’t get the set-up we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need price to retrace up to the 618/786 of this swing for a short trade setup, either this current swing, or the new one if price sustains the break of the B.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups at present.

If we don’t get the setup we are looking for then we don’t trade.

GBP/USD 1 AUGUST 2012

GBP/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We are still in the bullish AB swing on this pair.

FOR TODAY:

We are looking for a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade set-ups.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking for a retracement down to the 618/786 of this AB swing for a long trade setup. 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.

EUR/USD 1 AUGUST 2012

EUR/USD – follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price reached the 618 of this swing yesterday.  

FOR TODAY:

We will look for a test of the 618 today followed by a clear bearish cs formation for a short entry. If the 618 doesn’t hold then we look to the 786 for resistance.

A sustained break of 2389 negates this view and continues the uptrend.

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 looking for a test followed by a bearish cs formation for a short entry. Place stop 13 pips above the cs formation, max 1% risk. Limits 70 pips for the 618 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

No long entries at present since we are in reversal.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 1 AUGUST 2012

AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We now have a B swing high for the AB swing.

FOR TODAY:

We will need to wait for a retracement down to the 618/786 of this swing for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No shorts are considered during the retracement.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking for a retracement down to the 618/786 of this swing for a long entry.

If we don’t get the setup we are looking for then we don’t trade.