GBP/USD -
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Price gave us a long entry which was stopped out for 25
pips loss. We have a new B low down at 5630.
FOR TODAY:
Price retraced to the 382 of the AB swing, a break of
5725 is needed to take pressure off the downside.
Long trades are considered down at the BF 786 after
bullish cs formations.
If we don’t get the setup we are looking for then we
don’t trade.
SHORT: Will be
going short only IF:
Shorts can be considered after clear bearish cs
formations while inside 5725, else higher up at 5764/5800, the bigger 618/786. Place stops 13 pips
above cs formations, max 1% risk, limits down at 5650 – keep an eye on
risk/reward ratio.
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 price to fall down to the BF786 followed by bullish cs formations for long entries. Place stops 10 pips below the cs formation. Limits defined if the scenario presents itself.
If we don’t get the setup we are looking for then we
don’t trade.
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