USDCHF: Elliott Waves suggest that wave-3 will ignite soon!!

According to my analysis, USDCHF is very close to end the correction on short term basis. Current Elliott Wave outlook suggests that we are going to have a sharp rally happening very soon all the way up to 1.13000 price handle. Current price is good to enter but Stop-Loss point is very far at 0.95500. The R:R is still good but conservative trading is what I prefer which means we should get waves-i and ii of wave-3 in place on lower degree to get the best R:R ratio.
I will update the chart with detailed Elliott Wave labels plus SL/TP targets as soon as the price action confirms.
Guys remember that its gonna happen only if my analysis is correct!!
I wish you all very profitable trading...

Kommentar:

USDCHF has recently shown very nice corrective price action, hence I am still bullish on USDCHF with two different bullish scenarios. This holds true only above the origin of wave-1 in both scenarios. Good luck!
Preferred Wave Counts - Ending Diagonal:

Alternate Wave Counts - Impulse:

Kommentar:

Sorry about a little wrong interpretation in last comment. In 'Alternate wave counts' scenario, wave-1 should not be three but five wave move as shown in below chart: