GBP/USD
Price fell yesterday taking out the A low thereby starting a reversal on this timeframe.
FOR TODAY:
We now need a B to form, then a retracement to the 618/786 and a bearish cs formation for a short entry.
SHORT: Will be going short only IF:
We first need a B to form, then we need price up at the 618/786 and a bearish sc formation for a short trade set-up. Place stop 14 pips above the high of the cs formation, max1.5% risk. Limits for the 618 will be 60-70 pips and a 786 entry will be 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:
No long trade setups, we need a B to form first. I will tweet if something develops.
If we don’t get the setup we are looking for then we don’t trade.
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