USD/CHF can make the 2nd wave down.

USD/CHF can make the 2nd wave down.

Take a look on this daily chart, price bounced from key weekly level 1.0050. Most of the times price moving with waves. There could be a cycle with 2 or 3 waves. How it works, price moving as 1st wave and after, it stops for accumulate position for counting.

The same situation was on USD/CHF, as u see on chart price was in the Range last 2 weeks. But it most of the time bounced down from key level 0.9891.

For us, the best decision will be open Short near key sell zone 0.9860 - 0.9890

S/L: upper 0.9899

Goal: 0.9725

Trade closed: stop reached:

price broke up the key level 0.9891