GBP/USD
Price fell on Friday but failed to take out the A low at 5729. In fact price bounced off the low.
FOR TODAY:
With the support created on Friday, we are looking for a bullish cs formation as a DA86 trading day today.
A break of the 5729 lows will open the downside and start the reversal process on this timeframe.
SHORT: Will be going short only IF:
We need price up at the BF786 and a bearish sc formation for a short trade setup. Place stop 14 pips above the high of the cs formation, max1.5% risk. Limits will be at 5743.
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 a test of the lows and a bullish cs formation. Trade this as a ST to the BF786, stops below the low of the cs formation.
If we don’t get the setup we are looking for then we don’t trade.
No comments:
Post a Comment