GBP/CHF seems to have come to the end of a 3 wave correction
wave (c) = wave (a) and the correction stopped around the 50% retracement of the prior drop.
Price was also rejected at the 200 day moving average
The bullish RSI trend line from the 1/a low has also been broken
If not already in wait for a break of the trend line and a 3 wave correction to apply risk / reward
wave (c) = wave (a) and the correction stopped around the 50% retracement of the prior drop.
Price was also rejected at the 200 day moving average
The bullish RSI trend line from the 1/a low has also been broken
If not already in wait for a break of the trend line and a 3 wave correction to apply risk / reward
Note
5 waves down completedIt looks like 5 waves down have been completed. Now we would expect a correction to occur in 3 waves into the purple area which will present another short opportunity.
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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.