GBP/USD
Was stopped out at zero on the trade setup entered in at 6017. Price fell considerably during Asia, past the 618 of the AB swing in play.
FOR TODAY:
Price has fallen past the 618 but not into the 786 as yet. Will wait to see if we don’t get a test of the 786 before we bounce.
Else we can only sell up at the BF786, which at present (05H22 gmt) is up at 6111.
SHORT: Will be going short only IF:
We rally to the BF786 and then get a clear bearish cs formation, the limit here will depend on the prior bounce.
LONG: Will be going long today only IF:
We get down to the 786 and then get a bullish cs formation, trade this as 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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