dojitrader
Long

Potential "Dollar Long" Entry

FX:USDCHF   U.S. Dollar / Swiss Franc
122 1 0
The inverse of the Euro             is often, but not always, the UsdChf             . And while it is confirming the Euro             short
the picture is a little bit cloudy. I have no testing numbers to back up my observation, however, I've noticed
that the UsdChf             will often trade 5 waves shorter and 3 waves deeper than the Euro             . Thus, the deeper retrace
on this setup. (if this is a second wave then it can retrace all of wave 1 and still be right)
I think I'll watch the Euro             for my clue on this one as to what happens @ 1.3500. When it says sell
I'll be a buyer in UsdChf             .
Stopped out on what now looks like a full retrace of wave 1. with such a short b wave a = c @ about .9082 if you're looking to get back in and the risk is only 10/12 pips. Wave 2 is still a valid idea until we trade below .9077.
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