GBP/USD - follow me on twitter @fxdailyforecast
Price gave us the bullish cs formation we were looking for on Friday, I waited for a test which never materialized. Price went on to rally to 5900.
FOR TODAY:
I'm still of the view that price is heading for 5928, We will still look to buy dips after bullish cs formations until price reaches 5918/5928.
SHORT: Will be going short only IF:
We get a test of the 5900 price level, or higher while inside the A high and then get another bearish cs formation telling us that the level is holding, this will probably drive price down to the 5650 area again.
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 still looking for price to extend towards the 5918/28 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. 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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