GBP/CHF multi hundred pip drop
GBP/CHF seems to have come to the end of a 3 wave correction
wave (c) = wave (a) and the correction stopped around the 50% retracement of the prior drop.
Price was also rejected at the 200 day moving average
The bullish RSI trend line from the 1/a low has also been broken
If not already in wait for a break of the trend line and a 3 wave correction to apply risk / reward
wave (c) = wave (a) and the correction stopped around the 50% retracement of the prior drop.
Price was also rejected at the 200 day moving average
The bullish RSI trend line from the 1/a low has also been broken
If not already in wait for a break of the trend line and a 3 wave correction to apply risk / reward
Note
5 waves down completedIt looks like 5 waves down have been completed. Now we would expect a correction to occur in 3 waves into the purple area which will present another short opportunity.
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