RKchartest
Short

USDCHF Possible wave count and Long Term Short Trade

FX:USDCHF   U.S. Dollar/Swiss Franc
USDCHF             is starting to complete its corrective structure. If this count holds true it should take half the time to reach its profit target then it took to correct. Zig Zags tend to retrace 100% of the prior wave A or W. The minimum requirement for a C wave or Y wave is 61.8% to be complete. I chose the 61% level to not pick bottoms and have a high probability setup with a reward that is rather good. 2% risk would return around 20% on this trade. This is the kind of trade we look for and use patience.
Comment: The trade box is just me guessing a top here. Look for your own confirmation for a move lower if the pair does happen to go higher. I used what appeared to be the beginning of a impulse wave on a lower timeframe to draw my box stop.
The trade box is just me guessing a top here. Look for your own confirmation for a move lower if the pair does happen to go higher. I used what appeared to be the beginning of a impulse wave on a lower timeframe to draw my box stop.
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