09 Sept 07
US Dollar vs Swiss Francs
Today we continue with Elliottwave signal for US Dollar vs Swiss Francs .
Currency Pair = USD/CHF
Elliott wave Signal :-
Short-Medium Term Trade.
TimeFrame = 4 Hours.
Elliott Wave Signal = Buy limit advice at 1.1818 area.
Target Profit = 1.2030 area.
Risk Reward Ratio = less than 1.0
Stop Loss is seeing at 1.1796
Elliott Wave Analysis :-
This is a high risk signal just because from our calculation the risk-pe-reward ratio for this entry is below 1.0 %.So if you are not a risk taker we are strongly not advice you to use this signal.Just use this signal as your trade guidance.
From our elliott wave point of view, USD/CHF is still under ranging market whit a complex a-b-c-d-e zigzag correction pattern.
Although our target for next turn is around 1.1816,there is still a possibilities for Dollar /Swiss Francs to go further downward toward next support at 1.1730 area.
So make sure you are ready with your stop if you plan to trade the e-wave.
Below are our illustrated image of current USD/CHF elliott wave market pattern :-
From: Elliot wave signal prognosis
