Price fell to the BF786 area on Friday
after the NFP number. If we get a clear bullish cs formation from current
levels or lower down while inside the B low then we can expect price to rally
towards 3500 over coming sessions. Else a fall and a sustained break of the B
low will have us looking for another B low, keeping the A where it is.
Will be going long today if:
1.
We need a clear bullish cs
formation from current levels, or lower down while inside the B low, maybe
after a test of Friday’s lows even. Place stop 10 pips below the low of the cs
formation, max 0.5% risk, limits 100 pips or if you are a swing trader, then 10
pips inside 3500, at 3490.
2.
Remember a fall and a sustained
break of the B low negates this view.
Will be going short today if:
1.
No setups at present – stand aside.
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