CADCHF - Short within ABC
Dear community,
my SHORT idea is based on the Elliot Wave count, Fibonacci Retracement and classic chart analysis. Major facts that support my idea are:
- The price formerly formed and broke out of a beautiful ending triagonal, indicating the end of the impulsive 1-2-3-4-5 up move and the start of the a-b-c correction.
- The price dropped initially forming the A of the correctional a-b-c
- The price recovered and corrected back into the 50% / 61.8% Fibonacci levels, which would traditionally be seen as strong reversal levels
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Taking all these very convincing facts into account I am confident to believe that wave b is soon coming to an end, starting the last and most powerful downward wave c.
A potential target can be determined as soon as wave b is complete and wave c has started (to be posted in the updates).
Good luck!
my SHORT idea is based on the Elliot Wave count, Fibonacci Retracement and classic chart analysis. Major facts that support my idea are:
- The price formerly formed and broke out of a beautiful ending triagonal, indicating the end of the impulsive 1-2-3-4-5 up move and the start of the a-b-c correction.
- The price dropped initially forming the A of the correctional a-b-c
- The price recovered and corrected back into the 50% / 61.8% Fibonacci levels, which would traditionally be seen as strong reversal levels
===
Taking all these very convincing facts into account I am confident to believe that wave b is soon coming to an end, starting the last and most powerful downward wave c.
A potential target can be determined as soon as wave b is complete and wave c has started (to be posted in the updates).
Good luck!
Comment:
As per usual, the pair shows itself as being very sluggish. Currently we are stuck in the resistance area - which is also the best spot for opening short positions if that is what you believe is going to happen.
Comment:
Wave C has started. Currently wave 3 within the C is building.
Trade closed: target reached:
The price reached my target. Trade closed. The a-b-c could be completed at this stage. Wait for clear reversal signals before opening a long trade.
Well done and congratulations if you made some money with my idea.
Alysson x
Well done and congratulations if you made some money with my idea.
Alysson x