AUD/CHF

Closed AUD/CHF with +50.0 pips, target's complete.
CHF stayed neutral, USD moderately lost; however significant gain in AUD helped me reach target.
My view on CHF is still same and I am looking for trade against CHF, retracement in major USD pairs may help USD/CHF to make new high on D1. I will post in USD/CHF thread or other CHF pair if I determine a trade setup against CHF.

For more details you can see my post here.

Just out of this trade. It went too low too fast... but, of course, very happy with such movement. Will now wait for a retracement before going in again...

The point in using the rules and guidelines of the Elliott Wave Theory is to know where in the overall structure is the market right now, and what portion of that motion are they most likely to capture. Traders using waves are recognized by having their preferred wave pattern, their sweet spot so to speak, that frees them from having to keep a full account of the waves in all time frames.

Sell AUD/CHF | AUD analysis

If you look at our previous analysis of USD/CHF, you will find that we have been bearish on USD/CHF. After retracing slightly up for last four days, including today, Nov 20; USD/CHF seems to have resumed fall and may go to next target as mentioned in previous analysis. Conclusion: CHF is strong.

As per our observation shown in pic below, AUD is weak.


Decision: The conclusions derived from AUD/USD and USD/CHF, makes us sell AUD/CHF. Besides the conclusions; we on 1H time-frame of AUD/CHF see that tendency of upward retracement, higher highs & higher lows, was broken when a lower high & a lower low were made.

Closed AUD/CHF prematurely because we determined an alternative scenario on CHF.

short at 0.67558