Price found resistance at the 618
again yesterday. We exited the long position as per tweet with 100 pips profit.
For today either the DD at the 618 will hold for a short entry, or the BF will push
price higher towards the 786. Candle formations will give us a clue.
Follow me on twitter @fxdailyforecast where intraday updates
are tweeted.
Will be going long if:
We can only go long on a minor 618 long entry. If this doesn’t
occur, no trade setup.
Will be going short if:
The bounce yesterday leads us to believe that price is
heading to 5267 over coming sessions. We are expecting to find resistance at
this level so we will be looking for short entries here. If however we get a DD
entry at the 618 highs then we will consider that a short entry.
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