CAD/CHF Signal- November 27, 2012
Method: Elliott Waves
Description:Following a larger drop in pair earlier by motive wave (A) not shown, and a drop toward 0.9300 in a diagonal shape, I am expecting a pull back in a form of correction toward 0.9600 level in order to form wave (B). I support my view on micro level by a divergence in RSI confirmed an end to minor wave (e) at 1.618 or 0.93150. However, I would suggest traders and followers to watch the break or falling channel in order to trigger my buy and set Target and Stop Loss. Keep the trade on your watch list for today and stay tuned for a follow up on this trade.
Recommendation: Watch channel breaks. (will post more details once trade matures)
Stop Loss: N/A
- Currency Pairs