GBP/USD – HOURLY CHART
Price fell strongly on Friday with no entry for a short trade anywhere, we were looking for a rally and then a fall, but that never materialized. We now have a new AB swing, a big one. We need price up at the 618/786 for a short entry and a BF786 for a long.
SHORT: Will be going short only IF:
We get to the 618/786 and get a bearish cs formation. Trade the 618 for a limit of 60 pips, and the 786 will be a PT to the BF786.
LONG: Will be going long today only IF:
We get a test of the lows and a bullish cs formation. Trade this for 60 pips since it’s a shallow bounce.
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