EURCHF Correction Complete And Finally Ready For Entry
On the daily time frame we can see the trendline which broke to the upside. Looking at the impulse on the left of the daily chart, we can see that there is potential for a big move to the upside on the second impulse. I then need a smaller structure formation on a lower timeframe in order to gain an entry point.
On the 4hr we can see a 3 wave structure which broke to the upside:
Now I am looking for entry on the 1hr time frame. A smaller structure has formed and we are at the bottom of the 3rd wave now. This is a great entry point and I have taken the trade.
When the price reaches the top of the 1hr structure, I will move my SL to entry. As the price moves further into profit, I will move my SL according to levels of support and resistance.
You can view the video analysis on my YouTube channel: www.youtube.com/watch?v=GAIuXASq...
Happy trading!
On the 4hr we can see a 3 wave structure which broke to the upside:
Now I am looking for entry on the 1hr time frame. A smaller structure has formed and we are at the bottom of the 3rd wave now. This is a great entry point and I have taken the trade.
When the price reaches the top of the 1hr structure, I will move my SL to entry. As the price moves further into profit, I will move my SL according to levels of support and resistance.
You can view the video analysis on my YouTube channel: www.youtube.com/watch?v=GAIuXASq...
Happy trading!
Trade closed: target reached:
Nice pips banked
You can watch the full video analysis here: www.youtube.com/watch?v=GAIuXASq...
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