usdchf is giving us a good setup to sell. i had previously posted a chart for a sell that got stopped out. market made a higher B correctional wave. based on wave theory we can expect an expanding flat pattern type of formation here that can bounce off the 1.27 inverted extension(tp level) or it may form a cypher at the 1.618 inverted extension. B wave is also forming a head and shoulders pattern. you can trade the head and shoulders, or the breakout of the yellow channel, or whatever your strategy says.
i will update usdchf once and if tp gets hit for the ride back up
quick and easy 150+ pips
move down should be more corrective and the move back up should be more impulsive so we definitely want to ride the wave back up
from current market price reward to risk for this setup is 2.3:1
i will update usdchf once and if tp gets hit for the ride back up
quick and easy 150+ pips
move down should be more corrective and the move back up should be more impulsive so we definitely want to ride the wave back up
from current market price reward to risk for this setup is 2.3:1
Trade closed: stop reached
David K Giraldo