USD/CHF SHORT - Descending Wedge/Bearish Engulfing
Updated
The pair is on a downward trend to monthly resistance, it has reached a higher low and is now making a lower low. Another confluence is the 4HR bearish engulfing candle, and also the price bouncing from the top trend line of the wedge.
TP @ 0.99390
SL @ 1.00111
R/R @ 1.75
TP @ 0.99390
SL @ 1.00111
R/R @ 1.75
Trade closed: stop reached
Should have noticed the pair already touched a strong previous daily support on the lat swing low H4.Note
I also moved the TP to 1 R/R, which made the loss -4% of my account.Note
Would have won this trade had it not had a tight stop.
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