GBP/USD -
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Price rallied to the 618 of the downswing and has
consolidated since.
FOR TODAY:
Today is a DA618 trading day where we are looking for
price to continue down, maybe after a test of the 618 again. Look to sell
rallies after bearish cs formations.
Long trades are considered after a test of the BF786
followed by 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:
Being a DA618 trading day, we are looking for a test of
the 618 followed by bearish cs formations for a short entry. Place stop 13 pips
above the cs high. 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 can only enter a long trade setup after a test of the
BF786 followed by bullish cs formation. Place stops 10 pips below the low of
the cs formation, max 1% risk, limits here will be at 5460
If we don’t get the setup we are looking for then we
don’t trade.
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