Avoid Being Misled by Market MovementsGreetings Fellow Traders,
I wanted to share my analysis on the current state of FX:USDCHF . In my assessment, #USDCHF is completing its final downward wave after the substantial drop back in August 2011. The market has since formed an ABC correction, and we now appear to be in the last leg (wave 5) of wave C. If my analysis is correct, the pair is poised for a significant bullish trend once this bear wave concludes.
I've cross-referenced my USDCHF forecast with the FX:CHFJPY pair, which also seems to be nearing the end of its upward push toward 164-163.9. So for those with open USDCHF buy positions feeling uneasy about recent declines, I'd suggest implementing a hedge until this downward wave runs its course. Once selling pressure resumes, you can close your sell hedge and restore your USDCHF buy at your original entry point to ride the impending bull wave. This protection strategy can help mitigate further losses.
Of course, markets always entail risks. Price moves can deviate from forecasts, so manage your positions wisely. I'm sharing my perspective in hopes it aids your analysis, but please conduct your own due diligence.
Wishing you insightful analysis and profitable trades ahead!
