Trade Plan (Live): Sold AUD/CHF at 0.5660AUD/CHF completed a bullish Elliott Wave count (5 waves) at the **January 7 high of 0.5698**. The pair is now moving into a complex and corrective phase lower, which is typical following such patterns.
Corrective Pattern: Corrective legs often occur in three or five-wave structures .
Key Levels: Intraday resistance is identified at 0.5663 , while support is located between 0.5591 and 0.5581 .
Setup: Selling at the market offers a favorable risk-reward ratio of 3.45R .
Entry: Sold AUD/CHF at 0.5660
Stop Loss (SL): 0.5680
Take Profit (TP1): 0.5591
Risk-Reward Ratio: 3.45
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