ABBREVIATIONS
cs – Candle stick
PT – Position Trade
BF – B Failure
C786 – Counter 786
GBP/USD – HOURLY CHART
We are still in the bearish AB swing on Sterling; price is currently at the 618, which is sell territory. We will sell a bearish cs formation, but would prefer a sell after hitting the 786 first. Will wait to see what we get.
SHORT: Will be going short only IF:
We get a bearish cs formation, either at current levels, or higher at the 786.
LONG: Will be going long today only IF:
We get down to the BF786- currently at 6134 and get a bullish cs formation, this will have a limit at the 786 since we would have had a 618 bounce. But we are far away from that setup, if at all.
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