Guys, the EUR/CHF appears to show a nice trade setup. It results into a 2.5 / 1 risk-reward profile.
We've seen the EURCHF getting rejected from a multi-year trend channel resistance (pale blue). The rejection followed a wedge pattern. Moreover, an impulse to the downside developed.
An impulse, as well as time and space (the correction is not big enough relative to the previous advance), shift odds heavily towards continuation to the downside. As of now, we see a 3-wave move over the past weeks.
1.168 activates the short trade
1.1775 s/l
1.1415 target
We've seen the EURCHF getting rejected from a multi-year trend channel resistance (pale blue). The rejection followed a wedge pattern. Moreover, an impulse to the downside developed.
An impulse, as well as time and space (the correction is not big enough relative to the previous advance), shift odds heavily towards continuation to the downside. As of now, we see a 3-wave move over the past weeks.
1.168 activates the short trade
1.1775 s/l
1.1415 target
Trade active
Trade closed manually:
Pattern becomes increasingly 50/50 odds. This is gambling and not high-confidence setup trading. Closing at 1.1699
Comment:
-0.2%