Hello traders.
I like to take a short trade in EURCHF. I'm expecting either a correction in lower degree (yellow arrow), or higher degree (blue arrow). Even if I don't give any chance for it, there is also a chance for impulsive down move. The idea here, taking the trade, moving stoploss to breakeven, and leave it alone. So, we can see the potantial and if we are lucky enough we can catch down impulse (in order to see the down impulse expectation please check the related idea). Wait for a correction, then take the trade.
I like to take a short trade in EURCHF. I'm expecting either a correction in lower degree (yellow arrow), or higher degree (blue arrow). Even if I don't give any chance for it, there is also a chance for impulsive down move. The idea here, taking the trade, moving stoploss to breakeven, and leave it alone. So, we can see the potantial and if we are lucky enough we can catch down impulse (in order to see the down impulse expectation please check the related idea). Wait for a correction, then take the trade.
Note
Buy the breakout Order cancelled
It looks like a correction is in the making at the last section of the chart in 1h, but I decided to wait for more clear sence of direction. If you like to sell after breakout, I think it would still be a valid trade in terms of wave analysis.
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Related publications
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.