#USDCHF #Trading
Yellow Projection: Price could strengthen from here and tag through the trend line. Don't be fooled by this imposter bullish sign, as we still could expect one more wave down to 61.8% to compete the 3 wave correction.
Teal Projection: Second scenario would be crossing the trend line with great momentum taking price to $1.04.
Don't be frightened to take short positions down to the extreme level with any bearish continuation pattern. If price falls to the 78.6% - 88.6%, wait for RSI (cross the 20) and STOCH to cross (Cross 20 or 50 minimum) simultaniously and any other indicators to support to buy.
The risk: Price could fall and tag the (X) wave which would be a wash out, then head towards the target area.
Overall I am following yellow arrows and will only trade the yellow signals. I'm 80% bullish if yellow triggers.
Yellow Projection: Price could strengthen from here and tag through the trend line. Don't be fooled by this imposter bullish sign, as we still could expect one more wave down to 61.8% to compete the 3 wave correction.
Teal Projection: Second scenario would be crossing the trend line with great momentum taking price to $1.04.
Don't be frightened to take short positions down to the extreme level with any bearish continuation pattern. If price falls to the 78.6% - 88.6%, wait for RSI (cross the 20) and STOCH to cross (Cross 20 or 50 minimum) simultaniously and any other indicators to support to buy.
The risk: Price could fall and tag the (X) wave which would be a wash out, then head towards the target area.
Overall I am following yellow arrows and will only trade the yellow signals. I'm 80% bullish if yellow triggers.
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The information provided by Traders Mission is for educational purposes only. All information is provided in good faith and is not financial advice.
Twitter: twitter.com/TradersMission
The information provided by Traders Mission is for educational purposes only. All information is provided in good faith and is not financial advice.