USDCHF is giving a Short Setup after making 5 wave decline it made a corrective up move at 61.8 fib level. I would expect the pair to go lower from here for a target of 0.97640. Details are on the chart.
This trade has stopped me out a few times. I just read the SNB might be doing some intervention to bring the price up so they can lower it later. Im trying to figure out the structure to trade this. A way to confirm the top is over. So far we have hit 100% legs from WX on Y. Also Equal legs on the WXY or ABC after big X. Major pivots tend to happen in the first 5 days of trading of every month. I have a feeling the majors are about to shape up this week.
SirajHudda
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Equal Legs have just reached and I would not close my trade untill it goes above 1.0330 above which my stoploss is placed.. The structure is still valid and I would expect it to start down move this week.. If it goes above my Stoploss then probably something else is going on and at that time I would reanalyze what structure it is making..