Update on the GBPUSD trade: Closed out all positions.
The current wave structure is not clear. We could have a wave 3 top with potential for another run up, or we could have a long term top at 1.70.
The indicators are bearish and eventhough we might get a run up, it is unlikely that this week a new top will be set. The risk has increased to hold on to this trade much longer.
result:
Entry 1.6590
TP1 @ 6850 = 260 pips
TP2 @ 6850 = 260 pips
TP3 @ 6850 = 260 pips
Total = 780 pips.
Now we wait for the next trade setup. This trade did not go exactly as planned. But because this is a wave 5 of 5, you always risk a truncation that is why I think this was handled well. Rool with the punches an take what the market gives you.
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