CHFJPY Elliott Wave
Updated
hello friends
We see a triangle in the CHFJPY currency pair. Triangles are always seen in wave 4 or B of a zigzag. But everything depends on where these triangles break. It usually moves in the same direction after the break and the Pullback goes to the line. My theory is a wave B of a zigzag and the price is more likely to decline. Stop loss can also be set at the end of the previous wave or previous swing, because if the previous wave or previous swing is broken, the analysis and the chosen path are invalid and you have to enter the trade in the direction of the price break.
The probability of a price decrease is much higher than its increase.
Therefore, we have prepared a trade for downward movement.
Of course, we are in microwave C of the main wave D of the triangle. So, for the time being, the price reduction to the bottom of the triangle trend line seems definite.
To support me, I recommend you install Trading View software on your phone and see my analysis and support me with your comments and Boost. Be successful and profitable.
We see a triangle in the CHFJPY currency pair. Triangles are always seen in wave 4 or B of a zigzag. But everything depends on where these triangles break. It usually moves in the same direction after the break and the Pullback goes to the line. My theory is a wave B of a zigzag and the price is more likely to decline. Stop loss can also be set at the end of the previous wave or previous swing, because if the previous wave or previous swing is broken, the analysis and the chosen path are invalid and you have to enter the trade in the direction of the price break.
The probability of a price decrease is much higher than its increase.
Therefore, we have prepared a trade for downward movement.
Of course, we are in microwave C of the main wave D of the triangle. So, for the time being, the price reduction to the bottom of the triangle trend line seems definite.
To support me, I recommend you install Trading View software on your phone and see my analysis and support me with your comments and Boost. Be successful and profitable.
Trade closed: target reached
Be successful and profitable.
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