Starting the month of August, our Elliott Wave analysis for GBPCHF was calling for more downside in this pair. Our members knew a cycle has ended in GBPCHF and a new short term trend to the downside was to begin. As you can see in the first chart below, the RED arrow is calling for downside and the invalidation level for the down trend was in place. We advised our members to be patient and wait for the SELL opportunity in GBPCHF.
“Why does the patient trader always win? Because he/she always waits for the trade to come to him/her.” -Aidan Chan (EWF)
“If you miss a trade setup don’t worry. The market will still be here tomorrow to give you another and even better setup. Never chase the trade.” -Aidan Chan (EWF)
As you will see in the charts below, if any of our members missed the first SELL idea in the first week of August another SELL idea was given in the second week of August so they were still able to catch the move down. Take a look at the charts below from our members area and see what GBPCHF did.
GBPCHF August 1/2014 (Mid-day Update) **First SELL idea**
GBPCHF August 4/2014 (New York Update)
GBPCHF August 5/2014 (New York Update) **Price entered the first SELL zone**
GBPCHF August 6/2014 (New York Update)
GBPCHF August 7/2014 (London Update)
GBPCHF August 8/2014 (Mid-day Update) **Second SELL idea and NEW Invalidation level**
GBPCHF August 11/2014 (Mid-day Update)
GBPCHF August 12/2014 (Mid-day Update)
GBPCHF August 13/2014 (London Update) **Price entered the second SELL zone**
GBPCHF August 14/2014 (Asia Update)
Starting from the first SELL idea, the move to the downside was more than 300 pips in the first 2 weeks of August.
Did you catch this move? If you did not catch it, would these charts have helped you if you had access to them before the move? We, at Elliottwave-Forecast.Com believe these charts would have definitely helped you decide which side to trade on. To experience our service FREE for 14 days just click here ->FREE 14 day Trial
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