USDCHF, good RR Scalp

The previous trade overreached it's target by a lot, so i am going to take another trade on this one. It's not a beautiful bear flag, but because of the extra profit i am going to take it on. Good risk reward as well. On the left we can see a possible long term scenario. If this play out, i will try and make trades during those waves, assuming the general direction will be the blue line.


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Previous analysis:

Comment:

Still moving inside the bear flag, but it's starting to get a bit too big now so the chances are getting smaller for it to play out. If the stop breaks, it breaks, even though it's still below that red resistance area. But if this bear flag plays it might mean something else is going on. So i will first just watch and see how it plays out before making another move again.

On the left we can see a possible bearish wedge in the making, that's why i moved the stop loss a bit higher than the original stop loss.

Comment:

It took a whole lot of patience but we finally dropped. Moving stops to entry now and i might be looking to increase the position this week. Depending on how things move

Comment:

Will probably add if we see a bear flag

Comment:

Taking it's time, but seems like a bigger bear flag suggesting we could go towards the low of that big wedge on the left. I have extended the target for this trade now. Also move the stop down towards entry level.