A potential minor wave evolution, on the 4hr and 60min timeframe, could be the one illustrated in the chart.
The previous top at 1.736, however, has already been broken though, so watch the price action closely, as there is chance that the pair could drop from where it is at this moment.
For a more conservative trading approach wait for the pair to make a first strong impulse to the downside, wait for said impulse to correct itself with a small flag, and sell the break of said flag with a stop loss above it, to optimize R/R ratio.
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Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
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Following our previous analyses and having opened short positions, we are updating said sell opportunities by analyzing the OANDA:EURCHF 0.25% pair on minor timeframes.
The two scenarios we are currently monitoring (both possible) are the following:
1. The pair has been consolidating in a bigger contracting flat, on the 4hr timeframe. Said flat is completed now, and OANDA:EURCHF 0.25% is resuming it's upward swing for one more upside.
2. The pair has double topped on minor timeframes (please refer to our daily analysis as a necessary complement on this), and has already commenced it's downside movement. In this respect, this last upside structure on the 60min timeframe could be an expanding flat for more downside. This scenario will be confirmed only if the pair resumes it's downward momentum and drops. However, when the price gets to the 1.167 level, we still need to observe the structure because it could still be an running flat (instead of a contracting one) and we could still be playing out scenario 1 instead.