GBP/USD -
follow me on twitter @fxdailyforecast and stocktwits.com/fxg
Sterling bounced off 5808 again yesterday with a DD long
entry.
FOR TODAY:
Today we will to buy after dips and a bullish cs
formation. We will look for price to extend to 5963 enroute to 6006 over coming
sessions. We only look for short entries much higher after reaching the BF786.
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 bearish cs formation after price hits the BF786.
Place stop 13 pips above the high of the cs formation, max 1% risk. Limits will
be defined later.
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 need a dip followed by a bullish cs formation for a
long entry. Limits here will be at 5950, stop 10 pips below the low , max 1%
risk.
Else we need a retracement down to the 618/786 followed by
clear bullish cs formations at either of those levels.
If we don’t get the setup we are looking for then we
don’t trade.
No comments:
Post a Comment