USDCHF - Bearish game
Hi All!
📉 USDCF: Correction in Progress, Expecting a Drop
On the 8H chart of USDCF (Sep 27, 2024 – Jan 13, 2025), a five-wave impulse may have formed, followed by a correction.
🔹 Wave A has already formed.
🔹 Wave B nearly reached the local high but didn’t break it.
🔹 A pin bar appeared on the daily chart yesterday, strengthening the probability of a decline.
💡 Target – the 0.88784 area, where the 38% Fibonacci level is located. A deeper drop is possible, but this is the minimum target.
📊 Trade setup:
🔹 SL – above the local high
🔹 RR – 2.03
Watching the price action closely for further confirmations!
📉 USDCF: Correction in Progress, Expecting a Drop
On the 8H chart of USDCF (Sep 27, 2024 – Jan 13, 2025), a five-wave impulse may have formed, followed by a correction.
🔹 Wave A has already formed.
🔹 Wave B nearly reached the local high but didn’t break it.
🔹 A pin bar appeared on the daily chart yesterday, strengthening the probability of a decline.
💡 Target – the 0.88784 area, where the 38% Fibonacci level is located. A deeper drop is possible, but this is the minimum target.
📊 Trade setup:
🔹 SL – above the local high
🔹 RR – 2.03
Watching the price action closely for further confirmations!
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.
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.