EURCHF: Potential great long entry
I had this chart inside my EURNZD roadmap chart, but decided to publish it to keep track of the moves as they unfold.
Time at mode signals an uptrend, I decided to attempt labeling this with EW, but it was a pretty complex exercise, so I will adapt my friend's Nick Coulby's (tradingview.com/u/NickCoulby/) wave count to my time at mode chart for illustration.
There's a nice clear wave 4th completion, it'd seem, in the form of a falling wedge C wave.
A move below the wave 1 high would invalidate this uptrend, if it were to be an impulse, with waves 1 and 3 being equal, leaving the 5th wave a chance for either being an extension (and reaching the 1.618 level above) or a stubby short fifth, with extension in waves 1 and 3.
I'll take profits partially when retesting the 0 level in my fib tool to make this a risk free hold.
Time at mode signals an uptrend, I decided to attempt labeling this with EW, but it was a pretty complex exercise, so I will adapt my friend's Nick Coulby's (tradingview.com/u/NickCoulby/) wave count to my time at mode chart for illustration.
There's a nice clear wave 4th completion, it'd seem, in the form of a falling wedge C wave.
A move below the wave 1 high would invalidate this uptrend, if it were to be an impulse, with waves 1 and 3 being equal, leaving the 5th wave a chance for either being an extension (and reaching the 1.618 level above) or a stubby short fifth, with extension in waves 1 and 3.
I'll take profits partially when retesting the 0 level in my fib tool to make this a risk free hold.
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