FX:GBPCHF
CYPHER:
Point B:
38.2% to 61.8% XA
Point C:
127% to 141% ext XA
Point D:
78.6% XC
Target:
TP1 38.2% CD
TP2 61.8% CD
Safe Trades;
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After rising sharply over the last weeks, this pair seems to be poised for a correction. Breaking of the support at 1.542 will boost my confidence in this bearish scenario.
Good luck,
Ali Sharif Azadeh, CFTe
Short coming into play, daily resistance and trend line coming into play. My t/p will be touch of green line again with a possible renter depending upon conditions at the time.
After a sharp rally, bulls failed twice to break above the harmonic resistance created by the bearish Shark pattern. If 1.5054 support is broken, we will expect an increase in selling pressure which will drive price lowers towards green levels.
Our suggested stop loss level is also shown on the chart by a red line.
Good luck,
Ali Sharif Azadeh, CFTe
GBP/CHF looks like it is making a contracting triangle in the wave 4 position.
So far I have labelled this triangle as being in the middle of making wave e which is the final wave of an Elliott Wave triangle.
I will be selling on a break of 1.4660 looking for an initial target of 1.4509 (38.2% Extension of wave 1-3)
The second target is 1.4317 which is the...
