GBP/USD
Price also gave us the BF786 entry we were looking for
yesterday, but here also our FO was not filled, price just missed our forward order.
Price went on to fall to the 618 of the AB swing and bounced off it during
Asia.
FOR TODAY:
The DD bounce off the 618 tells us that price is good for a 100 pip rally so looks like it could be good to break the B high.
Else if
we get a clear bearish cs formation at the BF786 we will have a ST setup
towards the 786.
SHORT: Will be
going short only IF:
Price rallies and hits the BF786 and gives us a bearish
sc formation after that. This will be a ST to the 786 since we would have had a
618 prior. Stops will be above the cs formation, max 50 pips.
LONG: Will be
going long today only IF:
We get a test of yesterdays lows and a clear bullish cs
formation, trade this as a DD with a limit of 100 pips, stop below the low, 50
pips max. Else the next long trade opportunity will be at the 786 lower down at
5705.
If we don’t get the setup we are looking for then we
don’t trade.
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