I will let the current EURCHF trade run its course while placing a pending SELL order close to the 38.2% Fib level, just below it (1.2216) with target price at 1.21811 or 23.6% level. The stop loss would be placed at the 50% Fib level of 1.22519.
EURCHF - Wrong Wolfe Wave
Upon closer analysis, I discovered that the previous Wolfe Wave for the EURCHF was wrong as it was going against the trend. The H4 Chart below shows the manually drawn Wolfe Waves and also blends in with the overall downtrend of the EURCHF.
I will let the current EURCHF trade run its course while placing a pending SELL order close to the 38.2% Fib level, just below it (1.2216) with target price at 1.21811 or 23.6% level. The stop loss would be placed at the 50% Fib level of 1.22519.
I will let the current EURCHF trade run its course while placing a pending SELL order close to the 38.2% Fib level, just below it (1.2216) with target price at 1.21811 or 23.6% level. The stop loss would be placed at the 50% Fib level of 1.22519.
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