USDCHF LONG1

4 thg 2, 2021

We can see that the price broke through the resistance line and using the Elliot Wave theory we can see that we are currently expecting the 4th wave to start. Wave 3 has found now resistance on the 1 fib level and the previous resistance serves now as support which is also the same with 0.236 fib level. We wait for the bounce back and for the fourth wave to finish before going long! Be using the fib retracement tool we can see some areas of interest in whice would be a good time to buy such as; 0.786, 0.618 and 0,5. As soon as the price goes to these levels and starts bouncing back up thats when we are going to go long but until then we are keeping a close eye!