ChrisMark
Short

$EUR vs. $CHF Daily Chart. Upside Termination| #eur #chf #forex

FX:EURCHF   Euro / Swiss Franc
Traders,

The five-wave sub-minuette impulsive pattern is coming to an end, paving the way for the larger minute degree, 5-wave sequence to start its 4th corrective wave structure.
When subdividing wave 3. into five smaller degree waves, we see that its concluding 5th-wave can be seen unfolding into a contracting/ending diagonal pattern, composed of five internal waves, subdividing into 3-wave sequences.
Fibonacci price measurements converge, projecting terminal price targets, which indicates that price action diffuses, loses its momentum and energy, so at that point we create a "reversal signature", where a price rejection could be enough to validate the diagonal's completion.
Downside targets are already measured, however, an update of them will follow after the reversal signature has been confirmed.

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Comment: Don't miss the flag
Comment: Price reached determined target and reversed. A "throw over" took place. Is it the start of the drop ?
Comment: The reversal signature awaiting at 1.79900(+/-) has been validated. Now price broke out, and call for a drop.
Comment: Correcting. Sell setup
Comment: A closer look. Expecting more retracement rise before the downtrend continuation.
Comment: Correction is coming to an end, watch for downtrend continuation.
Comment: Still looking for the downside, maybe extended C. Invalidation level still intact
Hi Sir.
Will you update count?
Thank you for ypur interest.
Reply
It seems to be ending correction.
Thank you for everything...
Reply
Dear Chris, was ABC the pattern invalidated from the fact that EURCHF impulsed up so much ?
Thank you,
+1 Reply
ChrisMark Nicemate
Hi @Nicemate, still looking for the downside, maybe extended C. Invalidation level still intact
Reply
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