FX:GBPCHF   British Pound / Swiss Franc
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Mini 5 wave pattern ending with spinning top candle at price of Doji candle on 10th March.
Trade active: It has been a little static but still convinced a SELL. Friday being 8th and final day on wave 5 up. Wave A retrace begins.

Comments

Can I please know the indicator you are using.? And what the numbers mean?
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nelsyboy abdijama85
@abdijama85, Hi there. I only trade on the daily charts and use just a 5 period simple moving average. The pattern I put on the chart was based on Elliott Wave Theory. That is 5 waves up or down followed by retrace ABC. This was just a mini wave pattern and as the move up appeared to be running out of legs and finished with a candle that indicated that could be the end of the upward move.
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abdijama85 nelsyboy
@nelsyboy, thanks for the swift reply. Did you place the counting manually or its an indicator?
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nelsyboy abdijama85
@abdijama85, I just place the counting manually.
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nelsyboy abdijama85
@abdijama85, Look into Elliott Wave Theory. Just the basic rules. Nothing too involved.
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abdijama85 nelsyboy
@nelsyboy, I looked into it some time ago.. The five waves are recognisable on the daily.. I followed you. Thanks
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