I believe we are currently awaiting a nice pullback into the supply zone which also aligns perfectly with our 61.8 % Fib level. Should these levels hold I will be looking to go short, and likely holding until our demand zone is met. Roughly 0.9800 would be our target for just over 200+ pips.
Comment:
USDCHF has now ran nearly 100 pips reaching our first Tp extension level of -27. It is likely from here we will make the anticipated retracement that is necessary for us to eventually achieve our overall downside target.
Comment:
Just as described, after reaching our -27% extended target, we have pulled back all the way to our sell zone. I have taken profit from all long positions, and begin to add shorts.
Trade closed manually:
Price did push up and double top about 50 pips above our entry on the 61.8 supply zone. However holding strong we now are on our way. 150 pips currently running. We have now met the -61.8 extension. You can hold out for our final take profit or close now. Thank you for following along!