Thursday, 22 September 2011

GBP/USD 22 SEPTEMBER 2011



GBP/USD
No Trade setup on GBP yesterday.

Price took out support giving us a new B, lets see if this will be the swing low we are looking for. We can only sell up at the 618/786, or buy BF786 after cs formations. We don’t have a BF setup as yet.

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:
We need a swing high then a test of the BF786, we don’t have that as yet, so no long trade setups on Sterling at present. If it changes during the trading day I will post it.

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