GBP/USD – HOURLY CHART
Yesterday price gave us our bullish cs formation after a dip to the 618 of the bigger swing and the 86 of the smaller, price rallied and we are still in that trade setup. We were stopped out at zero on the previous days trade.
During Asia price tested the lows somewhat giving us a morning star during the session and price has rallied since. We are back at the BF786 sell territory; if we get a bearish cs formation here we will short down to the 786 since we had a 618 prior.
SHORT: Will be going short only IF:
We get a bearish cs formation at current levels. Trade this as a PT to the 786.
LONG: Will be going long today only IF:
We get a bullish cs formation at the 618/786. The 618 will be good for 60pips and the 786 as a PT to the BF786.
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