Jaxpx
Short

USDCHF SHORT

FX:USDCHF   U.S. Dollar / Swiss Franc
-61.8% retracement.
Comment: (For my journal), I believed we will encounter a truncated 5 Elliot Wave, where the 5th wave doesn't continue to make a new high and stops at 0.98746 before turning around, hence the stop loss of 25 pips. Price during Point 4 failed to make a higher low above Point 1 which suggested a failed continuation. At this point, I will keep the trade open to see where price is headed.
Trade closed: stop reached: News spiked SL

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