GBP/USD
We had a test of the support yesterday and a bullish cs formation, price came back and tested the 50 pip max level but my broker never filled me. Price rallied for the rest of the session.
FOR TODAY:
We are still in the same AB swing on Sterling. Since we had a very deep bounce out of the A low again, we are looking for price to extend towards 6120. Buy dips towards 6120, stops below the cs formation.
Else if price falls and takes out the 5875 low then we will be reversing on this pair.
SHORT: Will be going short only IF:
We get to the 6120 price level or even the 6165 highs and get a bearish cs formation, trade this as a ST to the BF786, stops above the cs formation, max 1.5% risk.
LONG: Will be going long today only IF:
We need a dip to buy into with stops below the cs formation. Trade this as a ST to the 6120 price, add to yesterdays position, assuming you guys got filled. Remember 1.5% max risk.
If we don’t get the setup we are looking for then we don’t trade.
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