qq26260

qq26260

As we wee in the chart, there is a strong support line. So we can have a long position.

qq26260

In a dangerous area, probably is going to start a short-term downtrend.

qq26260 Updated 

Based on elliott wave, after a series of 5 wave, we will have correction waves. So I think future trend, will be down trend.

qq26260

As you can see in my analysis, it seems we are in the beginning of the down-trend. This down side wave, can be wave.A or wave.1

qq26260

It seems price is moving up in a parallel chanel. It is time to go up again but, if down break-out happens, our analysis would fail. Note: sorry for my bad English. I am not a native.

qq26260

We can set a short alarm after braking down. As you can see, there is a descending triangle on the chart that aware us about down-trend.

qq26260

If this down-trend is Wave.4, I am waiting to reverse and take profit!

qq26260

Is it going to reverse its down-trend to an up-trend or is it going to continue its current trend. We should wait to confirmations. but in my opinion, up-trend has more chance. We can set a long trigger in a safe point after confirmation.

qq26260

It seems it is going to complete the Wave.5:5 . I think we will go up a little bit and then, booom!

qq26260

I think we are going to have an up-trend after a long time, after a wide correction. I am waiting for a trigger to long position.

qq26260

As you can see in the chart, it seems up trend has ended. Wave.5 has completed. IN "CHFJPY" . I THINK WE ARE GOING TO HAVE A DOWN TREND FOR A LONG TIME.