GBP/USD -
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No trade setup on Sterling yesterday, price came 1pip shy
of the BF786 and rallied.
FOR TODAY:
Today will be a DABF trading day where we are looking for
price to extend. We will look to buy dips after bullish cs formations.
Else a violation of the 5601 lows confirms the bearish
reversal on this timeframe.
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 clear 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:
Today is a DABF trading day, we are looking for price to
extend its rally and we look to buy after a dip and a bullish cs formation.
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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