botje11
Short

Trading waves inside the Bearish Wedge, Part 5

FX:USDCHF   U.S. Dollar / Swiss Franc
So far this long term short trade is going very good, caught a decent first entry and a perfect second entry (yellow circles). Now there are 2 things i will watch:

1) If we move up and break the red zone, i will close half and wait for a re entry.
2) If we drop and break that big green support zone , i will increase 50 to 100% at the yellow circle. So after seeing something like a bear flag form below that area.



Previous analysis:

Comment: So we broke the green zone and now i am going to sit and wait to watch what will happen the coming days. It should stay below the red zone now. So as mentioned, want to see like a bear flag forming here, if that happens i want to increase the short around at the second leg down (yellow circle)

Comment: Going almost perfectly this long term trade now, with the entries at the highs. This correction past day has been smaller (in time) than expected but already dumped even more today. Now i am not sure if it will just continue down to the support line of that big wedge. If we do get there in one stroke, i would certainly take some partial profit and wait for a re entry

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