USD/CHF outlook based on my understanding of Wave Principle Hello! I hope everyone enjoyed the holidays! I picked up a few books on EW and a lot of my ideas are updates as I progress my understanding of the EW principle. Thanks for feedback so far, the likes and comments! Let me know what you were thinking! If you like the idea give a thumbs up and if you had an idea post it in the comments. I'm looking forward to 2017 and expanding my knowledge of wave trading. I will keep my ideas updated to the best of my ability! It's almost time to enjoy the new year! I'll be taking a break from executing any trades!
Symetrical
Long and Short PossibilityFor this trading I'm looking for this broadening pattern to break out by 30 pips in either direction. It looks like this support level has already become resistance but I will be waiting for a breakout to get in on it. Target 1 in is at roughly the price range of the beginning of the wedge. The second Tp is at 30 pips less than the range from the lowest candle in the wedge to the highest. I put it 30 pips before the range because I'm waiting for a 30 pip breakout to enter the trade. Stop loss is 50 pips due to my account and position size.
Stop Losses : 137.91
Take Profit 1 : 135.81
Take Profit 2 : 136.31
DRADsymmetrical Triangle spotted. I made a DCF of this stock and got 12/share. Bulkowski's measure rule puts it at 7.22
I am bullish on this stock.
6m Symetrical TriangleOnly A-B is draw with "Disjoint Angle Tool" and it gives that perfect 6 months long symetrical triangle.
Some notable key levels have been added by the blue lines and the red/green area.
Let see how things will unfold.