GBP/USD
We got our bearish cs formation with constituted a BF786, price fell and then found support and gave us the dip we mentioned yesterday, but the stop was too big for the long trade.
Price confirmed resumption of the uptrend by taking out the B high giving us a new AB upswing. We now need to wait for either a BF786 short trade, or a buy down at the 618/786 both after cs formations.
SHORT: WILL ONLY BE GOING SHORT IF:
We get a bearish cs formation after hitting the BF786. This will be a 60 pip limit since it’s a shallow bounce.
LONG: WILL ONLY BE GOING LONG TODAY IF:
Price falls down to the 618/786 and gives us a bullish cs formation. Trade the 618 for 60 pips and the 786 as a PT to the BF786.
No comments:
Post a Comment