ABBREVIATIONS
cs – Candle stick
PT – Position Trade
BF – B Failure
C786 – Counter 786
GBP/USD – HOURLY CHART
Price has taken out the B high during Asia, giving us a new AB swing again. We don’t have a B high yet so we can’t draw fibs yet, so no trade on GBP for now. We need a B, then a pullback to the 618 for a buy after a bullish cs formation.
SHORT: Will be going short only IF:
We get a BF786 and a bearish cs formation, but since a B is not formed yet, that’s not going to happen in this session.
LONG: Will be going long today only IF:
We get down to the 618/786 and a bullish cs formation. Trade this for 60 pips if it’s a 618, and PT for a 786.
No comments:
Post a Comment