From wave (x) high on the chart, USDCHF decline in an overlapping five waves sequence in wave "a" - knows as a leading diagonal in Elliot Wave.
Leading diagonal points in the direction of a larger trend; which means that we could expect the price to move lower after the correction.
The correction in wave b seems completed and also retest the trendline channel for the third time.
The price also made a divergence on the M30 chart before it breaks out of the corrective structure.
Target below wave "a" low is plausible for the bears.
Leading diagonal points in the direction of a larger trend; which means that we could expect the price to move lower after the correction.
The correction in wave b seems completed and also retest the trendline channel for the third time.
The price also made a divergence on the M30 chart before it breaks out of the corrective structure.
Target below wave "a" low is plausible for the bears.
