GBP/CHF - 2000 Pips Fall - SELL Orders - March 2019
GBP/CHF - 2000 Pips Fall - SELL Orders Entry / Stop Loss & Take Profit levels. Market: FX Crosses - GBP/CHF
GBP/CHF is trading within a bearish sequence, and the previously posted article should act as a both guideline but also a confirmation for the overall analysis. A BIG fall of approx. 2000 pips should commence rather soon for the GBP/CHF pair, as the structure is pointing towards a bearish Intermediate degree (C) leg waiting right around the corner. The five-wave bearish sequence for GBP/CHF should be able to start after the current sharp retracement completes.It is indeed a demanding chart, but so are they all. It's a risk worth taken but also calculated.
GBP/CHF - Elliott Wave Analysis
Structure: - Intermediate degree (A)(B)(C) (blue) Sequence: - Minor degree ABC (orange) within Intermediate (A) (blue) - Minor degree ABC (blue) within Intermediate (B) (blue)Expectations: - Bearish Intermediate (C) (blue) would begin at or around the Fibonacci levels of the most recent (intraday) drop. Technicals in Favor: - Expanding Flat corrective structure synchronizing with a rejection at the previously broken Rising Channel's lower trend-line - Bearish Cypher as a Harmonic Pattern honoring the Fibonacci - Hidden Divergence from Primary X (purple) peaks, towards Intermediate (B) (blue) lower highs - Fibonacci Retracements of Intermediate (A) (blue) pointing towards a rejection materializing - Fibonacci Extensions of Minors (A) & (B) (blue) projecting the end of Minor C (blue) at the 150-161.8% levels - Ending Diagonal in Minor C (blue) followed by a Breach of the lower contracting trend-line.