TheLFB-Forex.com A Forex Trader Portal
Elliott Wave Charting: Usd/Chf
Upward price action on swissy, from the 0.9916 lows could be counted as an unfinished impulsive wave. In the middle of February the third leg of that impulse structure, a blue wave (3) was completed at 1.0897 when the Short correction of a blue wave (4) started.
Over the past few weeks our wave (4) has dropped below the 1.0506 zone where daily price action was unable to close, before a powerful reversal point appeared and put wave (5) in play.
The wave count remains valid with a Long trend that is expected in a blue wave (5) so long as the pair trades above 1.0500 support.
Follow Elliott Wave charts and updates on twitter.
If you would like to be a part of TheLFB.com, to receive a full Elliott wave detail for Usd/Chf (daily and 4h charts) and if you want to know what comes next and what to expect from the market, then join us now.
TheLFB Trader Advantage EA For MT4 Click here
Disclosure: no pos.