REMEMBER TODAY IS NFP DAY. I DO NOT RECOMMEND TRADING TODAY SINCE BROKERS DONT USUALLY GUARENTEE FILLS.
I'M POSTING FOR CONTINUITY AND TO SHOW THE TECHNICAL PICTURE FROM OUR STRATEGY VIEWPOINT.
GBP/USD
No trade setup yesterday on GBP.
Price took out the A low starting a reversal process. We now have a new bearish AB swing in play. We can only buy on a BF786 after a bullish cs formation, and we can only 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 60 pips and the 786 will be a PT to the BF786. Stops are above the cs formations, max 50 pips.
LONG: WILL ONLY BE GOING LONG TODAY IF:
We get to the BF786 and then a bullish cs formation. Trade this for a 60 pip limit since it’s a shallow bounce.
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