GBP/USD
No trade setup on Sterling yesterday.
FOR TODAY:
Price rallied for the B high yesterday but failed to break it and seems to be pulling back into the AB swing. If we break the B on a closing basis we will have a new AB swing in play and we will start all over again.
SHORT: Will be going short only IF:
We get a clear bearish cs formation from current levels, trade stop above the cs formation, limit 80-100 pips since it’s a shallow bounce prior.
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 after a bullish cs formation. Stop below the low of the cs formation. Limit for the 618 is 80-100 pips, 786 will be a ST to the BF786.
If we don’t get the setup we are looking for then we don’t trade.
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