GBP/USD
Price gave us the failure we were looking for, but stop was too big, it never tested to allow us a 50 max stop entry, so we passed on the trade.
We are back at the BF786 area where we have a bullish cs formation during Asia. We now need a test of that cs formation where we will place a long entry with a 50 max stop at 6303. Shorts will be considered up at yesterday’s highs if we get bearish cs formations there.
SHORT: WILL ONLY BE GOING SHORT IF:
We get to the A high and get another bearish cs formation. Trade this as a PT to the BF786.
LONG: WILL ONLY BE GOING LONG TODAY IF:
We are in long territory since we already had a BF786 and a bullish cs formation during the Asian session. A test of that cs formation is all that’s required for a long entry. Limits here should be at the A high – 10 pips inside – since we already had an A high test – a deep test, so this cs should take out the Highs.
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