GBP/USD
No Trade setup on GBP yesterday, price came shy of the BF786 but never hit it.
We are still in the bearish AB swing.
Price rallied yesterday without testing the BF786 so we never had an entry
point. We are looking to sell up at the 618/786 after bearish cs formations, or buy after hitting the BF786 and after a bullish cs formation. So far price
has come shy of the 50 fib level.
SHORT: Will be
going short only IF:
Price rallies up to the 618/786 and then gives us a
bearish cs formation, trade the 618 for 60 pips and the 786 will be a ST to the
BF786.
LONG: Will be
going long today only IF:
Price gets down to the BF786 and then gives us a bullish
cs formation. Trade this as a ST to the 618 since as at 05h50GMT we have a 50
bounce. Stops below the low – max 50 pips stop.
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