USDCHF Rising Wedge Short

Feb 7, 2019The USDCHF chart is showing us a rising wedge closing in, don't think it would take to long to let this wedge breakout.
I'm not going to put in targets now, but if it breaks and I'm watching it I will trade it and update this.
Maybe if the wedge closes in further I'm going for a try with a tight stop (Not as tight as my previous NZDJPY trade)
Thanks for reading!

Feb 8, 2019

Comment

The support is broken, we're now seeing some bearish movement as expected.
To make this wedge ideally, a drop to around .99500 should happen.

Feb 11, 2019

Order cancelled

This wedge didn't work out, I did not trade this but it did look solid.
If trading a wedge this would not have turned into a loss if after some drop the Sl would changed to entry level.
I'm not sure yet what happened that it didn't workout.
There is a chance we formed an wedge again with this new drop..
Showed on the second picture.
This is the wedge I'm going to look after now, because of this extra conformation of the support this wedge should be more meaningful.

Feb 12, 2019

Order cancelled

This didn't work out. The price simply went up.
No losses because I didn't trade it, if I would then only enter after the breakout with a tight SL or enter before with a SL that even in this case would have prevented a big loss.