ANALYSIS: USDCHF - Still Rising in a wave (3)

This pair has just been on a tear rising up from a completed expanding triangle. It seems intent on reaching back up the upper TL of that expanding triangle. How is it getting there?

On this DAILY chart, focusing in more on the wave C advance, it can be seen that there is still more upside to go in this pair.

WAVE COUNT
BIG waves in this pair! What I see is that this pair has been on a wave III move for weeks. More specifically, it has been on a wave (3) of III. It has just broken through a MAJOR SR Structure and is approaching another one. And this is still in it's wave (3). But it should be coming to an end soon. But the larger wave III does not appear to be over. Following this wave (3) is of course the wave (4) and then the wave (5) up to complete the wave III. Because of the size of the moves earlier in this up move, I believe that the ending waves here will not be large and we should see more sideways movement than large trending moves.

PATTERNS
There are 2 POTENTIAL patterns in play here. There is a crab and a butterfly. The crab finishes near the upper TL of that expanding triangle (seen on the WEEKLY chart) and also just slightly above the MAJOR SR Structure. I believe the completion of that crab should mark the ending of the wave III. The butterfly pattern completes higher and could be marking the ending of the larger wave (III).

MONTHLY CHART - In A Corrective Phase

WEEKLY CHART - Expanding Triangle

Do you want to see a more in-depth analysis on this pair? Do you want more analysis and trading tips? Join my faceboook group to see it. Go there now: www.facebookdotcom/efxselect (replace the "dot" with ".")

My members get complete REAL-TIME in-depth analysis, trades, alerts and signals on all pairs I cover as well as expert trading advice and tips. Would that help you? Go here now to signup or to get more info: www.efxselect.com

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.