GBP/USD
No entry on GBP yesterday, price came shy of the BF786 and then fell. Also, we had a 786 bounce as per forecast but the stop was once again too big to take the trade.
Price went on to take out the B high giving us a new AB swing. We now have to wait for either a BF786 and a bearish cs to enter short, or a bullish cs after price reaches the 618/786.
SHORT: WILL ONLY BE GOING SHORT IF:
We get a clear bearish cs formation after we reach the BF786. Limit out at 80-100 pips.
LONG: WILL ONLY BE GOING LONG TODAY IF:
Price reaches the 618/786 and gives us a bullish cs formation. Trade the 618 for 80-100 pips and the 786 will be a PT to the BF786.
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