GBP/USD - follow me on twitter @fxdailyforecast
No trade setup on Cable yesterday, price never reached the BF786.
FOR TODAY:
Price found resistance at the 382 of the AB swing. We can only buy after price hits the BF786, or sell a DD at the 382 or higher at the 618/786.
If we don’t get the setup we are looking for then we don’t trade.
SHORT: Will be going short only IF:
We get a rally to yesterday’s highs followed by a bearish cs formation; this qualifies as a DD entry and will be good for 100 pips, else higher up at the 618/786 of this AB swing followed by a bearish cs formation. Stop will be 13 pips above the high of the cs formation. Limits defined at time of entry.
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 bullish cs formation after price hits the BF786, or while inside the 5602 lows. Places stop 10 pips below the low of the cs formation. Limits will be defined at time of entry.
If we don’t get the setup we are looking for then we don’t trade.
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