Price formed a morning star formation on the daily chart a few days ago and has
since rallied to the 382 of the AB swing. We are at least looking for a rally towards
the 618/786 where we will be looking for short trade setups for a move
lower.
On the 4h chart we are looking for a dip into support circa
7018-6995 for a rally higher to levels mentioned above.
FOR TODAY:
Will be going short if:
1.
No short trade setups at present, we wait for
618/786 on daily as mentioned above where we will look to institute short trades with entries on lower time-frame.
Will be going long if:
1.
If price falls to support circa 7018-6995 and forms a clear
bullish cs formation on the 4h chart then we look to enter long trade setups,
stop below the cs formation, with limits set at 7220.
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