$GBP vs. $CHF Daily Chart.Correction coming to an end |#gbp #chf
Traders,
GBPCHF 's late-August five wave impulse advance from 1.22202 is approaching its upside termination where Fibonacci-Price-Ratio & Proportion measurements collaborate, highlighting a reversal zone standby, yet not confirmed.
This Zig-Zag correction labelled X(circle) has started unfolding since 10.10.2016 from 1.17837 ( C impulsive wave's end).
Wave (A), the first leg of the Zig-Zag, a five-wave pattern uptrend has since unfolded reaching 1.29143
Wave (B) has been developed into a Running Triangle Pattern as wave b. ends beyond the start of wave a. with wave e. undershooting a. - c. line.
Wave (C) subdividing into a five wave pattern where the 5th wave can be seen taking the form of an ending/contracting diagonal pattern.
The reversal signature is still to come, as the diagonal might not have completed yet, even a new higher-high or even a truncated fifth are welcome, although the price action will tell to determine the end of it or not.
Downside targets are towards a long way down, already measured, however, an update of them will follow after the reversal signature confirmed.
Trade with Discipline
Best
GBPCHF 's late-August five wave impulse advance from 1.22202 is approaching its upside termination where Fibonacci-Price-Ratio & Proportion measurements collaborate, highlighting a reversal zone standby, yet not confirmed.
This Zig-Zag correction labelled X(circle) has started unfolding since 10.10.2016 from 1.17837 ( C impulsive wave's end).
Wave (A), the first leg of the Zig-Zag, a five-wave pattern uptrend has since unfolded reaching 1.29143
Wave (B) has been developed into a Running Triangle Pattern as wave b. ends beyond the start of wave a. with wave e. undershooting a. - c. line.
Wave (C) subdividing into a five wave pattern where the 5th wave can be seen taking the form of an ending/contracting diagonal pattern.
The reversal signature is still to come, as the diagonal might not have completed yet, even a new higher-high or even a truncated fifth are welcome, although the price action will tell to determine the end of it or not.
Downside targets are towards a long way down, already measured, however, an update of them will follow after the reversal signature confirmed.
Trade with Discipline
Best
ملاحظة
A new higher high has formed as expected.Watch that pair closely as it is getting ready
ملاحظة
Price made a new high and reversed. Would that be the start of the decline?Watch for short setup opportunity
ملاحظة
Correcting. Sell setup 
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منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.