My wave count of GBP/USD for Friday 16th April is as chart 15 MTF above. About 25 minutes before Frankfurt open, the corrective 4th wave was completed with shooting stars were formed on the 15 minute and 5 minute charts. The top of the 4th wave was slightly below the daily pivot and the 200 bar EMA on 5 MTF chart. (refer to the 5 MTF chart below).
I took my sell position at that time with target at S1 level.
At 8 minutes after London open, the indicators at 5 and 1 MTFs showed a buy signal with profit target first at 89 bar EMA of 5MTF and the second target at 200 bar EMA of 5 MTF.
