GBP/USD
Price gave us the entry we were looking for at 6303, but stopped us out on the trade with 50 pips loss.
Price continued to fall and take out the lows giving us a new AB downswing. During Asia price bounced up to the 50 level, we can only buy at the BF786 after a bullish cs formation, or sell up at the 618/786 after bearish cs formations.
SHORT: WILL ONLY BE GOING SHORT IF:
We get to the 618/786 and get a bearish cs formation. Trade the 618 for 100 pips and the 786 will be a PT to the BF786.
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 it’s a 50 prior.
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