Wednesday, 28 September 2011

GBP/USD 28 SEPTEMBER 2011



GBP/USD
No Trade setup on GBP yesterday.

We are still in the AB swing, price bounced off the 86 yesterday, if we get a test of the cs formation and then a bearish cs afterwards it will be a sell signal on GBP.

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 found resistance at the 86 of the AB swing, if we get a test of yesterdays high and a clear bearish cs formation we will trade it as a ST to 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. This will be a ST with limits set at the A high since we have an 86 prior.

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