GBP/USD
No entries on GBP yesterday.
Price took out the B low giving us a new AB swing on the 1H chart. We are now looking for bearish cs formations higher up the AB swing to enter short. We can enter at the 618/786, or buy a BF786.
SHORT: WILL ONLY BE GOING SHORT IF:
We need price up at the 618/786 and a bearish cs formation for a short entry. The 618 will attract a 60 pip limit, and the 786 will be a PT to the BF786.
LONG: WILL ONLY BE GOING LONG TODAY IF:
Price gives us a BF786. Since we would have had a 50 prior bounce (as at 05h00GMT) we will limit a BF786 trade out at the 618.
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