USD/CHF: Retracement up to the top of the wedge?
I have entered a trade at market with 3 targets as in the chart.
It is very well possible that we might go further down but we might also see some profit taking and so PA might retrace up first to the top of the wedge before falling again...
I have additional buy limit orders on the top and on the bottom of the S/R zone (blue rectangle below the current price), each with better R/R ratio's. Lot size is limited because of the uncertainty of the current situation.
Trailing SL to BE when TP1 is reached. If we see a trendline appearing on shorter timeframe charts and PA breaks it convincingly I will close these positions and open some shorts.
It is very well possible that we might go further down but we might also see some profit taking and so PA might retrace up first to the top of the wedge before falling again...
I have additional buy limit orders on the top and on the bottom of the S/R zone (blue rectangle below the current price), each with better R/R ratio's. Lot size is limited because of the uncertainty of the current situation.
Trailing SL to BE when TP1 is reached. If we see a trendline appearing on shorter timeframe charts and PA breaks it convincingly I will close these positions and open some shorts.
Trade closed: stop reached:
Reversed lower than expected
