I believe we are forming an Elliot wave and will be looking for buys on USDCHF at around 0.9700.
I will be placing an order and expecting a snipe trade straight into profit.
If I was to be more conservative I would wait for a bullish candle on 4H.
My analysis predicts we will have a corrective wave from 0.9700 to my highlighted zone between 0.5 and 0.618 fib retracements.
Trade will look something like this:
USDCHF
BUY LIMIT @ 0.9700
SL @ 0.9640 (60)
TP1 @ 0.9860 (160)
TP2 @ 0.9900 (200)
I will be placing an order and expecting a snipe trade straight into profit.
If I was to be more conservative I would wait for a bullish candle on 4H.
My analysis predicts we will have a corrective wave from 0.9700 to my highlighted zone between 0.5 and 0.618 fib retracements.
Trade will look something like this:
USDCHF
BUY LIMIT @ 0.9700
SL @ 0.9640 (60)
TP1 @ 0.9860 (160)
TP2 @ 0.9900 (200)
Trade active:
SNIPEEE
Perfect order price.
60 pips up within the day, lets ride for 200.
Get ready for the sell, probably next week.
Perfect order price.
60 pips up within the day, lets ride for 200.
Get ready for the sell, probably next week.
Trade closed manually:
Profits taken 50 pips, reversal likely
Trade closed: target reached:
Target zone reached,