USD/CHF: Agressive short to completion of a possible bat.
Going short at market now after we broke the "up" trendline (see linked idea on the breakout!).
Possible target is completion of a possible bat and a possible lower lying trendline in extension.
This could be seen as an agressive trade with considerable risk!
More risk-averse traders might want to wait for further confirmation in the form of some consolidation on the trendline breakout before entering short (at a possibly better entry level a bit higher up).
One might also consider a slightly tighter SL (a couple of pips above 0.9700).
If one plans on taking the bat trade too then it's probably better to take full profit at TP1. I think I will take 80-90% at TP1 and only 10-20% for a possible extension to TP2 which is at the bat's X point.
I'm not risking more than 0.25% on this one...
Possible target is completion of a possible bat and a possible lower lying trendline in extension.
This could be seen as an agressive trade with considerable risk!
More risk-averse traders might want to wait for further confirmation in the form of some consolidation on the trendline breakout before entering short (at a possibly better entry level a bit higher up).
One might also consider a slightly tighter SL (a couple of pips above 0.9700).
If one plans on taking the bat trade too then it's probably better to take full profit at TP1. I think I will take 80-90% at TP1 and only 10-20% for a possible extension to TP2 which is at the bat's X point.
I'm not risking more than 0.25% on this one...
Trade closed: stop reached:
MISS
