Hello traders, I studied last week EURCHF and wanted to share my view and trading plan. This is the Daily EW count. Seems that we could be in wave C of 4.
We could arrive to 78fe in previous chart. Studying inside C, we may be in subwave 4. Awesome Oscillator showed the highest mountain, identifying subwave 3.
That trendline I draw is important, same as liquidity zone, big players love to break it since traders will go short there… grab liquidity and fly is one of their routines… A normal fibo retracement to check where subwave could arrive, a zone close to a missed weekly pivot at previous 38fe. Law of alternance with a deep fast wave 2 suggest that wave 4 shouldn’t correct deeper than 61%… that’s another game big player usually practices. Some pure Elliottists may be redoing their counts over and over again, but it’s normal. Don’t forget that strong hands also master Elliott waves.
Placed the downtrend fe… check how 127 stopped price 4 times until we finally broke it… There are too many symptoms that they want to break the trendline, get money, and fly for wave 5 around 61 zone, best posible entry boxed if we get there… let buy more.
Don’t forget to set your orders in EURCHF… 50pips stop… Cheap price to buy with a BAT after milking this pair down… buying at 200fe is a great idea. I have a confluence of Elliott, Fibo levels, Aureal trading, Institutional levels, Harmonics… we could be wrong, but we have to try.
These are my levels and the RRR 8.3 for the trade. I will take partials at 1.0975. Always feel free to comment any doubt and I will try to answer. Learn to trade with us. You are still on time to get the ATA course with 20% discount. Learn more about the course here.