GBP/USD
We got our BF trade on Friday after the bullish cs formation, limited out at 90 pips.
Price rallied and took out the B high on Friday giving us a new AB swing. We need a BF to short and price at the 618/786 to buy, both after cs formations.
SHORT: WILL ONLY BE GOING SHORT IF:
We are in BF territory, a bearish cs formation at current levels will constitute a short trade setup, however, a test of the high and a bearish cs formation would be a better setup. Wait and see.
LONG: WILL ONLY BE GOING LONG TODAY IF:
We need price down at the 618/786, then bullish cs formations confirming the U turn. The 618 will have limits at the 60 pip level, and the 786 will be a PT to the BF786.
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