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Tuesday, November 29, 2011 6:59:02 AM
USD/CHF 4 Hour Chart
Hey, sorry I missed your post last night. Apparently, the market had no intention of filling the gaps at all...LOL!
USD/CHF seems to have put in a fifth wave top at this point. I've been flip-flopping between trying to determine if the last wave had been completed or if this last move up was the final fifth wave. Apparently, the question has been answered.
We essentially made a double top that coincided with the double bottom on AU. From here, the potential for a large retrace is pretty high on USD/CHF.
However, there is one more possibility. This last move up on USD/CHF may not be the final move. We could retrace a bit more here and then shoot up again.
Only time will tell.
Hey, sorry I missed your post last night. Apparently, the market had no intention of filling the gaps at all...LOL!
USD/CHF seems to have put in a fifth wave top at this point. I've been flip-flopping between trying to determine if the last wave had been completed or if this last move up was the final fifth wave. Apparently, the question has been answered.
We essentially made a double top that coincided with the double bottom on AU. From here, the potential for a large retrace is pretty high on USD/CHF.
However, there is one more possibility. This last move up on USD/CHF may not be the final move. We could retrace a bit more here and then shoot up again.
Only time will tell.
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