Thursday December 14 at 4:15 ET
Trade Experiment #285 Sell USD/CHF at 1.2078
Stop is 1.2106
Target #1 is 1.1885
Risk is 34 pips
Reward is 189 minimum pips
Reward : risk ratio is minimum 5.6 to 1
For research purposes only
The entry price of 1.2078 is a high probability reversal value, and appears to be the top of the "b" wave of the downwards a-b-c "B" wave of an upwards Fourth Wave. Alternatively, it could be the top of the first upwards "A" Wave of the large upwards corrective Fourth Wave.
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Previous update:
USD/CHF update for Monday December 11 at 8:00 ET
Since the low Friday morning after the NFP data release of 1.1882 USD/CHF has risen 214 pips to a high of 1.2096 and then bounced down 67 pips to 1.2029. It is likely to continue with another downwards pulse of the downwards corrective wave and then finish its upwards Wave A of Wave 4.
USD/CHF is currently trading at 1.2080. This is at the top of mini wave b of a downwards zigzag wave 4 aiming for about 1.2010 - 1.2000. From the bottom of this wave 4 it should reverse and continue its ascent in the fifth wave of the larger Wave A of Wave 4 targeting about 1.2100. After this should come a fall of about 100 pips in Wave B of Wave 4 to about 1.2000, followed by a rise in Wave C of Wave 4 to about 1.2150, followed by a Wave 5 fall to about 1.1800 - 1.1830 - the bottom of a large downwards trend.
Trade Experiment #285 Sell USD/CHF at 1.2078
Stop is 1.2106
Target #1 is 1.1885
Risk is 34 pips
Reward is 189 minimum pips
Reward : risk ratio is minimum 5.6 to 1
For research purposes only
The entry price of 1.2078 is a high probability reversal value, and appears to be the top of the "b" wave of the downwards a-b-c "B" wave of an upwards Fourth Wave. Alternatively, it could be the top of the first upwards "A" Wave of the large upwards corrective Fourth Wave.
________________________________________________________
________________________________________________________
Previous update:
USD/CHF update for Monday December 11 at 8:00 ET
Since the low Friday morning after the NFP data release of 1.1882 USD/CHF has risen 214 pips to a high of 1.2096 and then bounced down 67 pips to 1.2029. It is likely to continue with another downwards pulse of the downwards corrective wave and then finish its upwards Wave A of Wave 4.
USD/CHF is currently trading at 1.2080. This is at the top of mini wave b of a downwards zigzag wave 4 aiming for about 1.2010 - 1.2000. From the bottom of this wave 4 it should reverse and continue its ascent in the fifth wave of the larger Wave A of Wave 4 targeting about 1.2100. After this should come a fall of about 100 pips in Wave B of Wave 4 to about 1.2000, followed by a rise in Wave C of Wave 4 to about 1.2150, followed by a Wave 5 fall to about 1.1800 - 1.1830 - the bottom of a large downwards trend.