Wed low has already formed. Wait for the false move to trace your bullish entries. Note the 78% of the fib level don't ignore it even if you can't trace the exact entry point. The forecast for the to GBP news is negative so you better put your pending orders at the 78% level as it may cut accross both side. On the lower side expect the 78% level. Put your stop loss at the centre of the consodilation level just below the 78% level. Please don't get into trade before the false move between midnight and 0130hrs Newyork time. I'm a risk averse, I won't enter the trade if the wrong move doesn't trigger the 78% level so I will wait for the news to activate my trade. Please also note that there are news tomorrow as well on GBP and mostly likely it will favour GBP and therefore helping fuel the price up.
Note
if it doesn't ignite it today wait for tommorow's news to do it and expect alot of consolidations todayNote
avoid getting to trades before considering false moves in Newyork midnight timeNote
waiting for the news to push it up further let's see what happens. use money management skills very wellNote
I'm new in giving insights but trust you me I will work to deliver some exact pips
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.