GBP/USD -
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There was a long trade setup yesterday on Sterling and
another one that presented itself now (06h00GMT). The trade is still open.
FOR TODAY:
Price tested the B low yesterday and bounced off it
twice, we now have a third bounce at the opening of the 06h00 GMT candle. We
will look for a rally of 60-70 pips from this bounce.
Alternatively, a break of the B low at 6113 will open the
downside and give us a new AB swing and of course stop out the current long
trade setup.
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 followed by a bearish cs formation after
price hits the 618/786. 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:
Price has already given us a bullish cs formation after the
BF786, we are currently long this pair. Stops are 10 pips below the cs formation;
limits are 60-70 pips.
If we don’t get the setup we are looking for then we
don’t trade.
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