The 15-minute chart for EUR/CHF presents a compelling long opportunity as the pair concludes its corrective wave (4) and gears up for the next impulsive move in wave (5). This setup aligns with the Elliott Wave theory, suggesting that the pair may now advance towards key Fibonacci extension levels.
Key Fibonacci Extension Targets:
1.0 Extension: 0.96151
1.618 Extension: 0.96736
These levels offer potential targets where the price could find resistance or consolidate. The 1.618 extension is especially noteworthy, as it often marks the end of an impulsive wave in a trending market.
This setup provides a clear framework for entering long positions with predefined targets, allowing for structured risk management. Traders should closely observe price action as it approaches these Fibonacci levels to optimize their entry and exit strategies.
Key Fibonacci Extension Targets:
1.0 Extension: 0.96151
1.618 Extension: 0.96736
These levels offer potential targets where the price could find resistance or consolidate. The 1.618 extension is especially noteworthy, as it often marks the end of an impulsive wave in a trending market.
This setup provides a clear framework for entering long positions with predefined targets, allowing for structured risk management. Traders should closely observe price action as it approaches these Fibonacci levels to optimize their entry and exit strategies.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.