GBP/USD
We exited our short at 6117 for a 20 pip profit after we got a very strong bullish cs formation around the UK open. No other trading opportunity on GBP yesterday.
We are still in the UP AB swing, still in the BF territory. We need a bearish cs formation for a short trade setup, and longs will be considered if we get a dip and a bullish cs formation.
SHORT: WILL ONLY BE GOING SHORT IF:
We get a bearish cs formation, normally we would hold this position down to the 50 level since we had a 382 prior, but considering the recent price action, exit when we get a bullish cs formation. Price has been heading higher on dips all week.
LONG: WILL ONLY BE GOING LONG TODAY IF:
Price falls and gives us a bullish cs formation before we hit yesterdays support. The reason I say this is that we have strong support at 6068,6000.
This is not in accordance with our system of buying at the 618/786, but because we have a strong cs formation on the daily chart, we will consider buying dips inside the 6068 support area.
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