GBP/USD – HOURLY CHART
We are still in the AB swing from yesterday, price gave us a BF786 entry after a bearish cs formation but never reached the limit yet, and during Asia gave us another failure, so we are still in that trade. Today we are looking for a DABF trading day, we will sell another failure providing the first trade is in the money at the time.
SHORT: Will be going short only IF:
We get another small rally and a bearish cs formation, this will constitute a DABF trading day but this time the limits will be at the 618 because we had a 50 bounce prior.
LONG: Will be going long today only IF:
Price hits the 618/786 and gives us s bullish cs formation. Trade the 618 for 60 pips and the 786 to the BF786, this will be a PT.
We have an option here to trade the long entry points as PT to the 6598 area since we have a BF786 on the daily charts, telling us that price will probably be heading there over coming days.
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