Analysis and plan - SHORT USDCHF

FX:USDCHF   U.S. Dollar / Swiss Franc
76 0 7
Since the decline from 01-02-2016 to 11-02-2016, price retraced, and managed to climb to 618fib, it got caught between converging lines, a sign of weakness, and divergence in macd formed, I was looking to short right at 618 level, but as i was at the limit of open trades, i didnt take it.. Now its breaking out of the consolidation zone, and it still offers a 3-1 risk to reward.

Short with stop above the zone where price consolidated for two days, Targets are previous swing low, and support trendline from daily.
Trade active: Still on this trade.
Comment: stop loss moved to 0.972
Trade closed: target reached
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