Wednesday, 20 February 2013

GBP/USD 20 FEBRUARY 2013



Price once again printed a lower low yesterday, we continue to wait for a B swing low to form, we remain side-lined until we get a retracement to the 618/786 of the swing for a short trade setup. Reversals are only considered on a break of the A up at 5689 If price continues to fall we have no setup.

Will be going long if:
No long setups at present according to the system. Stand aside and wait for an entry to present itself.

Will be going short if:
No immediate short trade setups, we need price up at the 618/786 for a short trade setup.

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