GBP/USD
No trade setup on GBP yesterday. Price went sideways for most of the day and fell during the asian session, now were virtually back there again.
FOR TODAY:
Seems like we have a B formed on Sterling. We now have to wait for a BF786 and a bullish cs formation for a long trade setup, else shorts are considered only once we at the 618/786.
SHORT: Will be going short only IF:
Price rallies to the 618/786 of this AB swing and gives us a bearish cs formation. Place stop above the high of the cs formation, max 1.5% risk, limits for 618 is 100 pips and the 786 is a ST to the BF786.
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 can only go long on a BF786 trade setup, we need a swing high and a test of the B low by hitting the BF786, until then no trade setup for a long trade.
If we don’t get the setup we are looking for then we don’t trade.
No comments:
Post a Comment