KVE
Short

USD/CHF: 2 possible shorts: bat and/or double top...?

FX:USDCHF   U.S. Dollar/Swiss Franc
42 7 2
Longterm short trade setup:
The Daily chart on the left gives us a possible short setup based on a possible double top which could complete at a possible downsloping trendline and possible dynamic resistance (confluence). Bare in mind that the momentum oscillators are bullish and we could see some further upside! I do think however that this is a good opportunity with very good R/R. 4 initial possible targets are drawn on chart, based on fibonacci and possible completion of the double top. An additional 5th longterm target could be taken (small percentage) in case PA goes to complete a possible bullish pattern (bat or shark). Please note that the bat/shark patterns are only drawn here for illustration purposes and to keep in mind what could be developing after this setup completes.The setup is mainly based on the double top and trendline resistance! I have my sell limit orders ready for entry @ 1.9820.

Short-term short trade setup:
On the 4H chart on the left we might have just completed a bearish bat in a possible S/R zone. 2 trades based on this bat are drawn in the chart. SL will be above X and possible completion of the double top on the daily and also above the longterm trendline. We have currently surpassed the 0.886 retracement of XA (depending on where you draw A, I didn't include the spike...) and PA is hovering around 0.9800.
The fact that we did not get a rejection of that level could point to further upside and possible completion of the double top on the daily so proceed with caution! Also no real bearish signs here on the momentum oscillators which could point to possible further upside. I will enter at market now (0.9800) and will take 80% at TP1 and the rest at TP2.

ADJUST YOUR POSITION SIZE BASED ON THE RESPECTIVE RISK FOR EACH SETUP!!
KVE PRO
a year ago
Almost perfect entry on the short-term bat!
TP1 (+64 pips * 80%) + TP2 (+100 pips * 20%) both met!

Sell orders for the longterm trade are not filled yet (entry at 0.9820).
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KVE PRO
a year ago
Sell orders for the other trade were triggered this morning.
I took some profits @ 1.9760 when the down move was showing signs of exhaustion...
The rest I will leave open with SL untouched until TP1 is reached.

It could be that PA goes back up for a re-test of that high (double top on smaller timeframe) before it goes down again, this gives people who are not in yet a new opportunity to still get in and short it at a possible better (higher) level (SL unchanged, better R/R...).
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KVE PRO
a year ago
Still possible to get in here:
snapshot
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KVE PRO KVE
a year ago
I will add positions so that the profits I took earlier would cover the extra risk in the added positions and some of the risk of the part that is still open.
Less loss if it goes against me, more profit it goes as planned... :-)
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KVE PRO
a year ago
Well on our way here, didn't get the chance to add more shorts though...
Looks promising though, we'll see!
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KVE PRO
a year ago
Don't forget this one: Short-term long on a possible retracement! >>>
USD/CHF: Possible bullish bat pattern on the hourly.


My TP1 on this longer-term short trade should have been triggered at that stage!
In light of this risk-averse traders might want to consider now to already trail SL on this short to BE!!
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KVE PRO KVE
a year ago
This smaller bullish bat worked fine!

Still in the long trade with SL at BE!
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