GBP/USD
Price eventually rallied during the Asian session and we are currently at the 786 of the swing.
FOR TODAY:
We need a bearish cs formation for a short entry on this pair.
Longs are only considered far below at the BF786. If we break the A high we will be reversing on this pair.
SHORT: WILL ONLY BE GOING SHORT IF:
Price has already hit the 786 of the AB swing, we now need to wait for a bearish cs formation for a short trade entry. Stop above the high of the cs formation, max 1.5% risk. Limits for this trade will be down at the BF786, 10 pips inside; this will be a ST entry.
If we don’t get the cs formations we are looking for then we don’t trade.
LONG: WILL ONLY BE GOING LONG TODAY IF
We need price down at the BF786 and a bullish cs formation for a long trade setup. Currently quite far away.
If we don’t get the setup we are looking for then we don’t trade.
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