EU MONDAY SETUP

15 Nov 2021The current setup is framed on 1. Friday's consolidation 2. Today's (Sun) impulse rally away from consolidation 3.and bias that price will move up before Tues London. From here I am looking for price to attack the recently created gap (recent impulse to upside 15m) and reach at least the 50% level of Friday's consolidation before giving more impulse movement to the upside. I have set a buy limit above 1.14450 as well as a stop around 1.14400. Even though I have drawn my gain for 70+ pips, I will only shoot for 50 if the trade activates. This trade is counter trend but with recent range created to the downside it is reasonable price would make a pullback before going lower.