GBP/CHF Possible Path (Updated)
I have redrawn what I believe to be the appropriate trend lines. I.E. line drawn from the end of wave 3 to the end of wave A. Copy this line down to start from end of wave 5 to provide possible end to wave B. I always say "possible" because nothing is definite nor impossible when trading!
I am trading what I believe to be a corresponding BUY move on EUR/CHF. It looks likely that the end of wave B is over. I'll wait and see tomorrow.
I am trading what I believe to be a corresponding BUY move on EUR/CHF. It looks likely that the end of wave B is over. I'll wait and see tomorrow.
Note
Text book ABC pattern with wave B over as stated and wave C off to the 61% FIB. Who knows if it will stop here and retreat as per the original 5 wave down. Options are to take complete profits or move stop up to between the 5EMA and 15SMA and see what happens next week.
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