USD/CHF: Elliott Wave Outlook and Prediction for 26.03.20–26.03.27
Trading Strategy Overview
Primary Approach: Look for opportunities to enter short trades during price pullbacks, as long as the market remains below 0.7956. The suggested profit-taking range is between 0.7420 and 0.7200. A valid signal to sell occurs if the price stays under 0.7956. Set your stop loss just above this level, and aim for profits within the 0.7420–0.7200 range.
Alternative Approach: If the price breaks through and stabilizes above 0.7956, this could indicate further upward movement, targeting the 0.8210–0.8400 zone. A buy signal is generated if the market moves above 0.7956. In this scenario, place your stop loss below 0.7956 and set your take profit between 0.8210 and 0.8400.
Elliott Wave Perspective
On the weekly timeframe, a larger bearish fifth wave is unfolding, with wave (5) of 5 currently in progress. It appears that the third sub-wave, labeled 3 of (5), is now forming.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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