NZD/CHF Short trade entry - Wedge breakout
Updated
We just had a clean breakout of a wedge to continue a strong downtrend - will look to short if we mitigate our supply zone on a retest of the wedge and create a LTF CHoCH
Coinciding with my previous post, we have been sustaining a healthy downtrend while mitigating our intended supply zones.
Price has now shown higher time frame signs of reversal and created our first major CHoCH. We now look for:
1. A major BOS (currently hovering around the former low) and subsequent supply zone mitigation
2. Downside fakeout and strong support at .5435 level to breakout of wedge to the upside and flip mitigated supply zones
Don’t forget from last post, we have a massive liquidity pool below us at our weekly demand zone!
Coinciding with my previous post, we have been sustaining a healthy downtrend while mitigating our intended supply zones.
Price has now shown higher time frame signs of reversal and created our first major CHoCH. We now look for:
1. A major BOS (currently hovering around the former low) and subsequent supply zone mitigation
2. Downside fakeout and strong support at .5435 level to breakout of wedge to the upside and flip mitigated supply zones
Don’t forget from last post, we have a massive liquidity pool below us at our weekly demand zone!
Trade closed: target reached
We awaiting a CHoCH and entered the trade on a supply zone mitigation! This was the perfect setup and our trade entry rules kept us from being swept around as liquidity. 
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