GBP/CHF To The Target And Beyond
EWM Interactive | Oct 14, 2014 07:43AM ET
Twelve days ago, on October 2nd, we published a forecast, called Elliott Wave Principle , the minimum target after a broken ending diagonal is at the level, where the diagonal had started. That is why we assumed that 1.53 should be reached. The next chart shows how the rate has been changing during those 12 days.
As visible, prices not only reached our target, but traveled even lower to 1.5173 as of today. Furthermore, the bears do not seem to be exhausted yet. From now on, the “trailing stop” technique could be used, in order not to exit the trade prematurely.
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