GBP/USD
No Trade setup on GBP yesterday.
We have a new B low in place and it’s a decent swing low.
We have our A up at 5746 and our B down at 5327, also a rather big swing for
the 1h chart. We once again can only sell once price rallies up to the 618/786
fib areas and we then wait for the cs formations as confirmation.
Long entries will only be considered once price falls
down to the BF786, accompanied by bullish cs formations.
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 80 pips and the 786 will be a ST to the
BF786.
LONG: Will be
going long today only IF:
Yesterday we were looking for a swing high before we
could call a BF786, today if we fall from current levels we will have a swing
high in place. Therefore if price falls to the BF786 and then gives us a
bullish cs formation we will trade it for 80 pips since we have a shallow
bounce in place.
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