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No trade setup on Sterling on Friday. Price rallied to
the 618 of the AB swing.
FOR TODAY:
Looking for price to extend its rally, so we look to buy
after a dip and a bullish cs formation with a view to price heading higher up.
Else since we are at the 618 of the AB swing, if we get a clear bearish cs formation we can
enter a short trade setup, else higher up at the 786-5908.
A violation of the 5991 highs will start a 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 clear bearish cs formation either at current
levels, or higher up at the 786. 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 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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