Price fell on Friday with NFP taking us
beyond the minor618 almost to the 786. We didn't get a bullish cs formation as
a long entry as yet. We continue to look for an entry long, maybe after a test
of the lows on Friday, or just a 618 of Friday’s lows. Patience is needed.
Will be going long today if:
1.
We are waiting for a test of
Fridays lows, either the low itself or just a 50/618 retracement followed by a
clear bullish cs formation on the 1h chart. Stops 10 pips below the cs formation,
max 0.5% risk, limits either inside the A high or 100 pips.
Will be going short today if:
1.
No criteria in place for short
trade setups - stand aside. A sustained break of the B low confirms the
reversal.
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