$GBPCHF Correction Due

FX:GBPCHF   British Pound / Swiss Franc
The rise from 1.4139 is impulsive (5 waves). This implies the trend is up. However, after 5 waves a correction is due. Ideal entry zone is between the 38.2% and 61.8% Fibonacci retracement levels. Areas in blue are real support. Wave count invalidation is all the way down at 1.4139. This analysis is being made to supplement the Technician's 4th Trade and provide Elliott Wave perspective.
Hi I was looking at this sort of setup. I am long from 1.4537 with stop at 1.45 looking to add more.
FutureMeDead AnandYRaja
Hi anandinhio. The IHS is very valid and I am looking at something very similar. I do not like the leading-D post wave II. The fifth wave is slightly truncated and I only trade patterns that are perfect. This doesn't mean it won't go up. I prefer your alt, where we are working in wave B of II. Good luck.
Nice chart.
+1 Reply
Excellent!! Please keep up the good work!!!
+1 Reply
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