Lets talk about USDCHF ,it looks like bears are now taking over. It is unfolding as 1-2-3-4-5 recently we had a (1)-(2) in intermidiate degree. So now we are currently in a 3rd wave phase so wave (3) is always an impulse not a diagonal.
Waste case scenario would be if we are wrong about downside continuation.To consider going short we need to observe how wave 2 unfolds on minor degree. Which personally think is a Zig-Zag pattern but it can be any other corrective pattern.
Tips on a Zig-Zag, wave A is five waves(motive) wave B is a correction wave C is a five wave pattern(motive).
How i like to set targets for wave is is by incorporating a fib based tool/fibonacci extension/fibonacci Expansion.
Waste case scenario would be if we are wrong about downside continuation.To consider going short we need to observe how wave 2 unfolds on minor degree. Which personally think is a Zig-Zag pattern but it can be any other corrective pattern.
Tips on a Zig-Zag, wave A is five waves(motive) wave B is a correction wave C is a five wave pattern(motive).
How i like to set targets for wave is is by incorporating a fib based tool/fibonacci extension/fibonacci Expansion.