USDCHF - Oh Look! A Channel...

27 באוג׳ 2023

USDCHF is in a steady decline within a channel. We appear to be in a leading, which is made up for 5 waves consisting of 3subwaves each. We are in wave 4 now and looking for the final 5th wave lower

We are approaching the channel resistance and the 38.2 fibonacci. Expecting a rejection here.

Trade Idea:
- Watch for rejection at the channel
- Risk entry on rejection of channel
- Safe entry on break of the red trendline
- Targets: 0.855 (350pips), 0.83 (550pips)

Goodluck and as always, trade safe!