Head and shoulders pattern on the daily chart. Now currently pulling back. Awaiting break of trendline on H1 chart to enter. Possible 1000 pip plus move to be had over the next couple of months (hopefully).
Engulfing bar, could be the start if wave 3 of the trend.
Has pulled back to the 38.2 fibonacci level before forming an engulfing bar.
Aiming for a 3x R/R target at the 127.2 Fibonacci extension.
Broken rising wedge pattern to the downside on EUR/CHF. 50 sma also broken adding to confluence.
1:2 R/R available if traded on a pull back to the broken resistance line.
More potential downside if next support is broken and the price falls down to its inception point.
