ABBREVIATIONS
cs – Candle stick
PT – Position Trade
BF – B Failure
C786 – Counter 786
GBP/USD – HOURLY CHART
We have a B high and we will now wait for either a pullback to the 618 and a bullish cs formation, or a BF786 and a bearish cs formation for a short trade.
SHORT: Will be going short only IF:
We get a BF786 and a bearish cs formation. Trade this for 60 pips since it’s a shallow bounce.
LONG: Will be going long today only IF:
We get down to the 618/786 and a bullish cs formation, that’s 100+pips away. Trade this for 60 pips if it’s a 618, and PT for a 786.
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