Hello traders,
The pair CHFHKD is near completion of a Gartley pattern with an abcd that goes a higher than the projected .786 measured level. Keep an eye on this pair or monitor its inverse pair which is USDCHF for a possible opportunity on your preferred pair.
In this analysis, I will be discussing the possible short opportunity in the CHFHKD Pair.
It appears to me that the greater trend has been completed, and we an a,b,c correction take place.
My first reason supporting this is that we have broken out of the trendline for the greater impulse structure and rejected it before sharply moving downwards.
Similar to...
I am not picking a top. While I am posting this there is no guarantee that we have hit the top, but I believe we are near the top.
As the analysis shows, we appear to be finishing wave 3 of the higher trend.
My reasoning behind this being a wave three is as follows.
Wave 3 of this wave is not the shortest.
It is a 5 wave move, making it impulsive. We see...
Seems to be a pattern now with some of the CHF/Asian currency pair now. It is true that impulses are generally much easier to trade, and we certainly have an impulse here that I believe is not yet done. That means up if you are just starting out. Goals are in green, invalidation in red. And ofcourse, as always, do not take anything I say, including this update, as...
