bmck1
Short

EURCHF - Rounding top, Fib confluence & AB=CD possibly underway

FOREXCOM:EURCHF   Euro / Swiss Franc
Looking for a Short trade here on the EURCHF - H1 chart. We've recently been tracing out a sort of rounded top formation which I feel may be an indication that we might be headed lower here on this pair.

If we measure out the larger Fib retracement of the previous move up, and a Fib extension of the initial move down that followed, we can see that the 61.8% & 127.2% levels are pretty much at the same area of the chart giving a nice little bit of confirmation. We can also measure out an equal measured move ( AB=CD ) from the high of the move up and you can see that the AB=CD would also end up completing around that same level. Could potentially be a nice R:R trade down to an area where we may see renewed buying pressure.





Trade active: I'm short here at 1.4000
Trade closed: stop reached: ECBizzle
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out