I expect USDCHF to close the Weekend Gap Soon. I also plan to hold that trade for a longer period of time. On the Daily, this setup will try to catch the fifth impulse wave. Wave 1 to 4 already completed in my opinion. Also, the price made a complete 3 waves corrective cycle = Retracement Completed.
Two probable scenarios:
1. The price retraces to the origin of the impulsive wave (Demand Zone) and continues it's way up. (Be aware of the weekend gap (Trouble area)
2. The price goes as far as the weekend gap before retracing to the origin of that impulsive wave.
Two probable scenarios:
1. The price retraces to the origin of the impulsive wave (Demand Zone) and continues it's way up. (Be aware of the weekend gap (Trouble area)
2. The price goes as far as the weekend gap before retracing to the origin of that impulsive wave.