Trading waves inside the Bearish Wedge, Part 4
Updated
I think finally after almost 3 months of waiting for this one, i think this is the moment has come now. My previous analysis showed a bull flag, which failed completely since the flag never took it's shape. So i was afraid of missing a good entry for a long term short, but after that drop it has rallied up again. Today i already started to short it a bit and now i will take on another batch. Now i will wait some more. If we continue to go up, i will probably add one more time. For the remaining position, i will wait for some real confirmation of weakness. This is a long term trade, so i am not using a stop. I will simply cut my losses when i think the wedge is completely invalidated, not any sooner.
Previous analysis:
Previous analysis:
Note
Second entry was at the high which is great, so overal in profit already. But now we see a small triangle, could break both ways. I am not sure yet if THE high is set already though, but most certainly could be, since we dropped this fast already after seeing that big rally yesterday. Which might confirm already, that this rally yesterday, was a short squeeze, pushing out shorts to fill up their own.Note
New USDCHF analysis:
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