USDCHF bounced off 0.99642 where it could potentially rise further to 0.99642.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Wave C of a flat may be completed, in the form of the diagonal (not explicitly shown on the chart, but waves 1 and 4 overlap). Last move up was in 5 waves, therefore it qualifies.
Breaking down will give an entry below the red trend line
Open - 0.99682
TP1 - 0.98812
TP2 - 0.97146
TP3 - 0.96612
SL - 0.00154
Please note that my setups are not signals to trade but my own personal analysis and predicted direction. To enter a trade it must be validated by multiple different indicators and confluence factors.
Now it's my favorite situation, sell with a close stop. Small risk and huge potential profit. Be ready for a move down, I don't know the fundamental reason of drop, but it will be very soon.
DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money.