USDCHF: Potential nested impulse - Update
Updated
There's an active daily time at mode uptred at play here, and the price seems to be forming a pair of nested impulses in EW terminology. This is secondary in my analysis but I suspect that we will see a correction take place, allowing us to enter a long position with excellent risk/reward tomorrow.
The fibonacci retracement levels or the low volume support area below might stop the decline.
I'll update with the setup, London might give more clues, hopefully not triggering a setup before I wake up.
Good luck,
Ivan.
UPDATE:
Correction almost complete!
It looks like we might have an excellent buy opportunity soon.
UPDATE 2:
Entered and already closed 75% of the position.
Looking to scale in on a retracement.
Potential daily target:
The fibonacci retracement levels or the low volume support area below might stop the decline.
I'll update with the setup, London might give more clues, hopefully not triggering a setup before I wake up.
Good luck,
Ivan.
UPDATE:
Correction almost complete!
It looks like we might have an excellent buy opportunity soon.
UPDATE 2:
Entered and already closed 75% of the position.
Looking to scale in on a retracement.
Potential daily target:
Trade closed: target reached
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