GBP/USD
No trade setup yesterday, with huge AB swings this is usually the case, it takes a bit longer.
We have a new bullish AB swing, price took out the A high yesterday doing a reversal pattern. We now have to wait for either a BF786 and a bearish cs to short, or a bullish cs formation after hitting the 618/786 for a long trade entry.
SHORT: WILL ONLY BE GOING SHORT IF:
We need price up at the BF786 -6173 and a bearish cs formation for a short trade. Trade this for 100 pips since it’s a big AB swing.
LONG: WILL ONLY BE GOING LONG TODAY IF:
Price falls to the 618/786 and gives us a bullish cs formation, trade the 618 for 100 pips since it’s a big AB swing, and the 786 entry will be a PT to the BF786.
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