GBP/USD
Price gave us a bullish cs formation after the BF786, entered long at 6155, still in that trade. Will limit at somewhere between 80-100 pips if we get there, stop at zero.
We are still in the down AB swing, price came shy of the 618 during Asia after failing at the B low yesterday. We are looking for a DABF trading day today, we are looking for a dip and a bullish cs formation for a long trade setup.
Shorts will only be considered after price hits the 618/786 and we get a clear bearish cs formation with a workable stop.
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 a bit and then gives us a bullish cs formation. Trade this for 100 pips profit.
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