USDCHF - Bearish game
Hi All!
📉 USDCF: Correction in Progress, Expecting a Drop
On the 8H chart of USDCF (Sep 27, 2024 – Jan 13, 2025), a five-wave impulse may have formed, followed by a correction.
🔹 Wave A has already formed.
🔹 Wave B nearly reached the local high but didn’t break it.
🔹 A pin bar appeared on the daily chart yesterday, strengthening the probability of a decline.
💡 Target – the 0.88784 area, where the 38% Fibonacci level is located. A deeper drop is possible, but this is the minimum target.
📊 Trade setup:
🔹 SL – above the local high
🔹 RR – 2.03
Watching the price action closely for further confirmations!
📉 USDCF: Correction in Progress, Expecting a Drop
On the 8H chart of USDCF (Sep 27, 2024 – Jan 13, 2025), a five-wave impulse may have formed, followed by a correction.
🔹 Wave A has already formed.
🔹 Wave B nearly reached the local high but didn’t break it.
🔹 A pin bar appeared on the daily chart yesterday, strengthening the probability of a decline.
💡 Target – the 0.88784 area, where the 38% Fibonacci level is located. A deeper drop is possible, but this is the minimum target.
📊 Trade setup:
🔹 SL – above the local high
🔹 RR – 2.03
Watching the price action closely for further confirmations!
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