Tuesday, 27 September 2011

GBP/USD 27 SEPTEMBER 2011



GBP/USD
No Trade setup on GBP yesterday.

We are still in the AB swing, price is currently at the 618, so we are in sell territory if we get a clear bearish cs formation.

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:
We are at the 618 of the AB swing, if we get a clear bearish cs formation we will trade it for 80 pips. If we rally higher to the 786 we will look for a bearish cs formation after we hit the 786. Limits here will be at the BF786.

LONG: Will be going long today only IF:
Price falls to the BF786 and then gives us a bullish cs formation. Stops below the cs formation. Limits set at the 786 since we have a 618 prior – as at 05h52 GMT.

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