GBP/USD
No addition short trade setup yesterday, got stopped out
at zero with previous days trade, trade was in 80 pips hence stop at zero. Price
rallied on to take out the A high, doing a reversal on the 1H Chart.
FOR TODAY:
We have a new AB swing, with the A down at 5270, and the
B at 5797. We can only sell after price hits the BF786 and gives us a bearish
cs formation.
Long trades will only be considered once price gets down
to the 618/786, which is very far away right now.
SHORT: Will be
going short only IF:
Price rallies and hits the BF786 and then gives us a
bearsh cs formation. Trade this for 80 pips since it’s a shallow bounce. Stops above
the highs of the cs, max 50 pips.
LONG: Will be
going long today only IF:
We get down to the 618/786 and then get a bullish cs
formation. Trade the 618 cs formation for 80 pips and the786 entry will be a ST
to the BF786. Stop below the cs formation, 50 pips max.
If we don’t get the setup we are looking for then we
don’t trade.
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