Hello traders.
I like to take a short trade in EURCHF. I'm expecting either a correction in lower degree (yellow arrow), or higher degree (blue arrow). Even if I don't give any chance for it, there is also a chance for impulsive down move. The idea here, taking the trade, moving stoploss to breakeven, and leave it alone. So, we can see the potantial and if we are lucky enough we can catch down impulse (in order to see the down impulse expectation please check the related idea). Wait for a correction, then take the trade.
I like to take a short trade in EURCHF. I'm expecting either a correction in lower degree (yellow arrow), or higher degree (blue arrow). Even if I don't give any chance for it, there is also a chance for impulsive down move. The idea here, taking the trade, moving stoploss to breakeven, and leave it alone. So, we can see the potantial and if we are lucky enough we can catch down impulse (in order to see the down impulse expectation please check the related idea). Wait for a correction, then take the trade.
Comment:
Buy the breakout
Order cancelled:
It looks like a correction is in the making at the last section of the chart in 1h, but I decided to wait for more clear sence of direction. If you like to sell after breakout, I think it would still be a valid trade in terms of wave analysis.
