GBPUSD- Long@1.4570's for target=1.4684

FX:GBPUSD   British Pound / U.S. Dollar
49 0 7
Distance 0--a ( 1.4515 - 1.3836 = 0.0679) ...add to b-wave bottom@1.4005 which gives 1.4005 + 0.0679 = 1.4684 as c-wave             target & c-wave             shall touch channel top...I was sitting idle as I wanted to sell below 1.42979 but it never happened & bulls were strong when they crossed 1.4515 so something crossed my mind & I tweaked in trading strategy...went long @1.4570 with stop below 1.4515( a-wave             ) for target= 1.4684....as per comment section of previous update...

Happy as I am reaching my target. Regards,
Trade closed manually: We need to exit ...GU went close to the target-1.4684...made a high@1.4638 & reversed.....current rate-1.4600......GU looks like going for downtrend......becareful....Regards
Comment: GU fall from 1.4638 has taken again lot of time & not breaking key level-1.4300 so one should avoid taking short & should look again for going long only when it crosses 1.4615 for targets 1.4684--call once active--recent low should be stoploss
Comment: Instead of waiting for break of 1.4300 for going short---we can also go short if GU breaks 1.4515 -which was a-wave high as shown in chart. Regards
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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