USDCHF - Ending diagonal, reversal following ?
Our first attempt to short this one was a Failure as we were only in wave 4.
Now we are at a important resistance zone and could see a reversal in the coming hours.
A move below 9898 would increase the odds of a continued bearish move.
The beginning of this diagonal is a good first target zone.
Now we are at a important resistance zone and could see a reversal in the coming hours.
A move below 9898 would increase the odds of a continued bearish move.
The beginning of this diagonal is a good first target zone.
Comment:
Well this just happend
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Clear stop hunt here !
Comment:
We got a a leading diagonal down from the expected top and are currently in wave 2 retracement.
Resistance levels are 9960 and Fib retracement levels.
A break outside the corrective channel and below 9905 would be a good indication that the correction is over but beware as it could just be a Flat pattern playing out which would retrace back up once more after taking in and out sellers who have their position at the low !
Resistance levels are 9960 and Fib retracement levels.
A break outside the corrective channel and below 9905 would be a good indication that the correction is over but beware as it could just be a Flat pattern playing out which would retrace back up once more after taking in and out sellers who have their position at the low !
Comment:
USDCHF - Might finally have started it's reversal. A move above the 78.6% retracement level would increase the odds for a continuation higher.
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