USDCHF - An idea based on Bearish Rising Wedge and Oversold

I don't pretend to know a lot about trading as I am still in my trading infancy i.e. I have only been trading for about 2 years. In that time I have blown my account up a good couple of times after making substantial gains. Any massive drawdowns have solely been to oversizing positions by arrogantly thinking I 'KNOW' what is going to happen. Ironically, my assumptions usually come true, but I have already been stopped out due to using larger positions than my account (and my nerves) can handle.

With the above in mind, I am trying to be more disciplined by using smaller position sizes and entering at less risky positions. This trade hopefully encapsulates this strategy. I will be keen not to withdraw from this trade too early as I am guilty of cutting the winning trades too quickly, and letting the losing ones run for too long. After all, I am still learning and trying to curb my excitableness in trading. It is not gambling, and we must remember this at all times. It only takes one impulsive trade to wipe your account, something I have experienced more than once!

Fingers crossed this is a goer!

Trade active:

var tradingview_embed_options = {};
tradingview_embed_options.width = '640';
tradingview_embed_options.height = '400';
tradingview_embed_options.chart = 'KbESF4l6';
new TradingView.chart(tradingview_embed_options);

USDCHF - UPDATE by RobClarke2e on TradingView.com

Comment:

Comment:

Going well. The smaller timeframe position worked well and target was hit. We are now about half way there on the longer timeframe target :)