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EURCHF - Overview on Daily Timeframe - Short

OANDA:EURCHF   Euro /Franc Thụy Sỹ
As per our previous analysis, it seems that EURCHF             has of now completed, or is very soon about to complete, it's 5th impulsive wave and is going for a big downside correction:



A very nice opportunity to the downside, not to be missed when it happens.

From this moment on therefore, we will be looking for sell setups, on this pair: watch out for ending diagonal formations, double tops and other price action patterns for an entry point on their break. For a more conservative approach, wait for a first impulse to the downside, wait for a small correction of said impulse on the 60min timeframe, and sell the break of said correction with a stop loss above it.

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Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).

Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.

Thank you for viewing.
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