Wednesday, 13 July 2011

GBP/USD DAILY FORECAST 13 JULY 2011


GBP/USD
No trade setup yesterday.

We have  a new AB swing, price came shy of the 618 during Asia, we can only sell at the 618/786, or buy at the BF786, both after cs formations.

SHORT: WILL ONLY BE GOING SHORT IF:
We need price up at the 618/786 and a bearish cs formation for a short trade.

LONG: WILL ONLY BE GOING LONG TODAY IF:
Price falls to the BF786 and gives us a bullish cs formation, trade this as a PT to the 618 since we would have had a 50 bounce.

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