Price found support yesterday and rallied
off the A lows. We posted a long entry yesterday morning, with limits at 1.0344
(error in post of 1.0244). That trade entry is still open, currently 60 pips profit
at time of writing (06h20 GMT), change limit to 1.0334, with stops at cost now.
We are looking for price to rally towards 1.0375, a break of which starts the
uptrend with a base down at 1.0225. A sustained break of 1.0225 continues the
downtrend.
Will be going long if:
We can add to yesterday’s long position on minor 618 bounces,
provided the current position is 50+ pips in the money.
Will be going short if:
No short entries from current levels. We will wait for a
bearish cs formation if it presents itself after a BF786 print.
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