GBP/USD - follow me on twitter @fxdailyforecast
There was no trade setup on Sterling yesterday, we waited for a dip but never got a bullish cs formation during the session. Price continued to rally in late US session.
FOR TODAY:
We still looking for dips and bullish cs formations to buy until price reaches 5918.
A break of 5644 negates this view.
SHORT: Will be going short only IF:
No short trade setups, we need price much higher for a short trade setup.
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 have a DABF786 trading day where we are looking for price to extend towards the 5918 level. We are looking to buy dips after bullish cs formations. We will trade this entry as a ST to the 5900/5918 price level over coming sessions. Stops 10 pips below the low of the cs formation.
If we don’t get the setup we are looking for then we don’t trade.
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