USDCNH-Update: Target Hit, Time To Take Profits? #Forex

FX:USDCNH   U.S. Dollar/Chinese Yuan
25 0 7

UPDATE: Price has hit the 3 wave measure move target, is this the ideal time to take profits?. I recommend taking profits here, and waiting for a pullback where there will be a safer level to get into another long position to the upside. Target was hit nicely, and expect the long position to follow shortly, after a small breather from the bears.

Previous analysis: Compelling bullish presence after a bearish correction after a bullish impulse leg. A nice correction to the Fibonacci retracement level offers a fantastic opportunity to long to the upside. Price is strong, engulfing the previous days
bear candle, showing continued strength, which will give the necessary momentum for a 3 wave measure move to the highs of the range. I hope you have a tested trading strategy to trade this move.

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