GBP/USD
Sterling fell to the A low but never broke the support, instead it bounced off the support giving us a bullish cs formation at the A low, this should be good for a rally to 5720.
FOR TODAY:
Today will be a DA ALOW trading day where we will be looking to buy dips to 5720. These will all be ST’s.
Only if price takes out the A low at 5525 then we will be reversing on this timeframe.
SHORT: Will be going short only IF:
We get to the 5734/69 highs and then get a bearish cs formation, stop above the cs formation, max 1.5% risk, limit will be down at the A low at 5525.
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 dips and bullish cs formations, buy these until price reaches 5720.
If we don’t get the setup we are looking for then we don’t trade.
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