USDCHF - Bearish game

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Hi All!

📉 USDCF: Correction in Progress, Expecting a Drop

On the 8H chart of USDCF (Sep 27, 2024 – Jan 13, 2025), a five-wave impulse may have formed, followed by a correction.

🔹 Wave A has already formed.
🔹 Wave B nearly reached the local high but didn’t break it.
🔹 A pin bar appeared on the daily chart yesterday, strengthening the probability of a decline.

💡 Target – the 0.88784 area, where the 38% Fibonacci level is located. A deeper drop is possible, but this is the minimum target.

📊 Trade setup:
🔹 SL – above the local high
🔹 RR – 2.03

Watching the price action closely for further confirmations!

Penafian

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