$EUR vs. $CHF Daily Chart. Upside Termination| #eur #chf #forex
Traders,
The five-wave sub-minuette impulsive pattern is coming to an end, paving the way for the larger minute degree, 5-wave sequence to start its 4th corrective wave structure.
When subdividing wave 3. into five smaller degree waves, we see that its concluding 5th-wave can be seen unfolding into a contracting/ending diagonal pattern, composed of five internal waves, subdividing into 3-wave sequences.
Fibonacci price measurements converge, projecting terminal price targets, which indicates that price action diffuses, loses its momentum and energy, so at that point we create a "reversal signature", where a price rejection could be enough to validate the diagonal's completion.
Downside targets are already measured, however, an update of them will follow after the reversal signature has been confirmed.
Trade with Discipline
Best
The five-wave sub-minuette impulsive pattern is coming to an end, paving the way for the larger minute degree, 5-wave sequence to start its 4th corrective wave structure.
When subdividing wave 3. into five smaller degree waves, we see that its concluding 5th-wave can be seen unfolding into a contracting/ending diagonal pattern, composed of five internal waves, subdividing into 3-wave sequences.
Fibonacci price measurements converge, projecting terminal price targets, which indicates that price action diffuses, loses its momentum and energy, so at that point we create a "reversal signature", where a price rejection could be enough to validate the diagonal's completion.
Downside targets are already measured, however, an update of them will follow after the reversal signature has been confirmed.
Trade with Discipline
Best
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Don't miss the flag
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Price reached determined target and reversed. A "throw over" took place. Is it the start of the drop ?
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The reversal signature awaiting at 1.79900(+/-) has been validated. Now price broke out, and call for a drop.
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Correcting. Sell setup
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A closer look. Expecting more retracement rise before the downtrend continuation.
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Correction is coming to an end, watch for downtrend continuation.
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Still looking for the downside, maybe extended C. Invalidation level still intact
