GBP/USD – HOURLY CHART
Price rallied yesterday without any trade entry opportunities for us. We are now at the 786 of the downswing. If we get a bearish cs formation here we will short. Long trades are only considered at the BF786 much lower down.
SHORT: Will be going short only IF:
We get a clear bearish cs formation. I say clear because price rallied somewhat yesterday after a steep fall the previous trading day, so there is a possibility that we could take out the A high today. If we do get a clear bearish cs formation trade it, but as soon as we get a bullish cs after a dip, exit the trade with profit from the fall, because then price might be telling us that we might be heading up to the A high.
LONG: Will be going long today only IF:
We get a bullish cs formation down at the BF786, way down, as mentioned above, however, if we get a dip and a bullish cs formation, trade it for 60 pips since we have rallied strongly after the previous days fall.
No comments:
Post a Comment