GBP/USD
Also a nice dip and a bullish cs formation on Friday, but was too close to the exit at the 786 so never took the trade. Price then rallied and took out the A high doing the reversal on the 1h chart.
FOR TODAY:
We looking for a new B high still on Sterling. Once we have that we can draw fibs and check for the 618/786, places to enter long trade setups.
Else shorts are only considered once we have a BF786 setup.
Else shorts are only considered once we have a BF786 setup.
SHORT: Will be going short only IF:
We get a BF786 setup, we will need a swing low and a test of the BF786, we have none of these as yet. So for now no short trades on Cable.
If we don’t get the setup we are looking for then we don’t trade.
LONG: Will be going long today only IF:
We get down to the 618/786 of this AB swing, once we at the 618, enter on confirmation of a bullish cs formation. Stop below the low of the cs formation.
If we don’t get the setup we are looking for then we don’t trade.
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