Trade # 32: USD/CHF Short

I mentioned here that I would short the USD via USD/CHF because it has a nicer bearish pattern. I shorted @ 1.2150, stop @ 1.2305. My target 1.1930 and lower.

Notice the 5-wave drop from 1.2296 followed by an irregular flat 3-wave ABC rally. I took advantage of today's rally to short, as price should stay below 1.2300.

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