USDCHF - Descending Wedge Pop Up - Bullish Continuation
Just finished a 3rd of a 3rd extended wave. Bullishness is still developing in the indicators. I Will give a close up view for what I expect in the short term. Long-term targets will be the following swing highs in green.
Trade active:
Right now we are retesting the previous resistance on the descending wedge as support. Looking for a 580 pip return on a 7+ RR on this trade. Wave count looks pretty clear and indicators are showing bullishness. I'm liking this trade setup and have entered.
Right now we are retesting the previous resistance on the descending wedge as support. Looking for a 580 pip return on a 7+ RR on this trade. Wave count looks pretty clear and indicators are showing bullishness. I'm liking this trade setup and have entered.
Trade closed: stop reached:
Stop was hit. Found support on the bottom of the descending wedge, but may eventually break it.
Expecting the progression to look a bit like this along these supports and resistances.