Updated

USDCHF - trade ideas

I will start this thread with the diagonal structure identified on H4 time frame.

This diagonal may be a leading diagonal - implying that next immediate move after a proper correction will be to the downside, OR
an ending diagonal - usually, as the wave C in a large flat.

I will illustrate both options here.

Given the DXY structure I am favouring the next move down (D1/H4), after a proper corrective pullback.

Trade safe

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Daily frame - bearish option (A zigzag (ABC) completed and confirmed downside with an impulsive move down as a leading diagonal):

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Second option - for a bullish case - a double zigzag, where wave X is likely completed as an expanding diagonal. Price is close to 62% retracement against wave W.

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Misprint in the last comment - as an expanded flat (instead of ED). :)

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That’s the bullish 1-2 on m15

Trade active

Bought.
SL 0,934
Below the channel & MA50

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Nice set up

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SL below ma50 h1 (to the earlier update)

Trade closed: stop reached

Trade active

Opened 0,01 buy
SL below the last low

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It’s a nice head and shoulders pattern on H1

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Update m15. H&S still valid, still a corrective whipsaw, as a tripple combo

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This combo may be a correction against a leading expanding diagonal:

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On top of that:

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Breaking out of the corrective price channel

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The wxyxxz can be marked as follows, with the ending diagonal as wave Y

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A nice breakout. Waiting for the further upside. Could draw a couple of h1 trend lines on the price chart, as well as on RSI

Trade closed manually

Closed in profit 70 pips, plus swap. A small overall profit for two trades. Next ideas in a separate thread later. Good luck!

Trade active

Decided to prolong the life of this thread. Opened a buy 0,01 @ 0,9299

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Trade closed manually

Closed @ 0,936
Nice trade.

UnknownUnicorn3382580

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UnknownUnicorn3382580