Hellena | USD/CHF (4H): Short to 100% Fibo lvl 0.86885.
Dear Colleagues, I suppose that the downward movement to the area of 100% Fibonacci extension level 0.86885 will start soon. This will be the anticipated wave 3, which may go even lower.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Comment:
Dear Colleagues, at the moment the price is trading at 0.87994 and there has been no update of the high yet. This means that at the moment the price may start a downward movement without completing the full correction in wave 2. For a conservative entry, I would wait for the completion of wave 2. But for a more risky one, I would consider only short positions.
Comment:
Dear Colleagues, price is flat, which means I expect a strong range exit. Of course I expect an exit to our target of 0.86885. In general, the price is showing reluctance to go upward and this is good.
Comment:
Dear Colleagues, the price is testing the resistance area 0.88390 again, and maybe it will renew the high a little bit, but I still assume that the price will start a downward movement.