CHFJPY completed Weekly corrective structure
Hi guys,
We have completed structure on the CHFJPY pair. The question is do we have just A-B-C correction and total downside or we are just in a B wave completion of a bigger Running Flat B wave correction which would give us a C wave for the next couple of months to the downside and 1000 pips guaranteed. Once the price reaches 108.600 area, we need to consider another up move, which would give us a C wave and break the previous top 122.663 to complete A-B-C with B wave being a Running Flat on a Weekly timeframe. For now, we can look for sell setups with Weekly MACD showing divergence.
We have completed structure on the CHFJPY pair. The question is do we have just A-B-C correction and total downside or we are just in a B wave completion of a bigger Running Flat B wave correction which would give us a C wave for the next couple of months to the downside and 1000 pips guaranteed. Once the price reaches 108.600 area, we need to consider another up move, which would give us a C wave and break the previous top 122.663 to complete A-B-C with B wave being a Running Flat on a Weekly timeframe. For now, we can look for sell setups with Weekly MACD showing divergence.