TomProTrader

GBPCNH-Update: Strong Upside, Hold To 3 Wave Target! #Forex

FX_IDC:GBPCNH   POUND STERLING / CNH
34 0 6
Traders,

Update on trade: Moving extremely well to the upside since I last posted the pair (See related ideas).

The trade is in a nice 3 wave cyclic move since buying at the bottom. There was a nice bullish leg, followed by a corrective bear leg, offering a morning star signal for a continuation move to the highs of the range. The morning star was offered on Fib retracement, giving a nice reliable launch pad for an upside move. Expecting the extended target for this pair to be the 3 wave minor move. Before taking profits on this position.

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