GBP/USD – HOURLY CHART
Yesterday price gave us our bullish cs formation after hitting the 786 and our trade limited out 10pips inside the A high, giving us 84 pips profit.
Today we are looking to buy dips for another rally towards the A high DABF786 trading day. We will sell a failure at the highs around 6040 if we get it.
SHORT: Will be going short only IF:
We get a bearish cs formation at the 6040 highs, this will be telling us that we are heading for the lower end of the range again, PT this to the BF786.
LONG: Will be going long today only IF:
We get a dip and a bullish cs formation, trade this two ways:
- Either as a PT to the 786 on the 4h chart at 6180 (this might take a few days to get there), or
- Trade it for 60 pips limit since the PT limit of the A high is 30 some pips away only.
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