Elliot Wave: USDCHF Set Up To Retrace 50% of The Decline
Updated
USDCHF is setting up for a retracement after 250+ pips sell-off from the major high. See related ideas to see how we took advantage of the decline.
Price has broken out the decline descending trendline in an impulsive move in wave "a" and about to complete a regular flat in wave "b".
Price is expected to head higher from or near the current level, And it will most likely retest the broken ascending trendline that lined up with 50% Fibonacci retracement of the decline.
Price has broken out the decline descending trendline in an impulsive move in wave "a" and about to complete a regular flat in wave "b".
Price is expected to head higher from or near the current level, And it will most likely retest the broken ascending trendline that lined up with 50% Fibonacci retracement of the decline.
Note
Entry Idea: Buy anywhere within the blue zone and stop-loss at the invalidation level.
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