USD/CHF: Possible bullish bat pattern on the hourly.
See the pink bat drawn in the chart. In the background one can notice that there could be several other patterns (blue and orange, see my other idea's) in play on larger timeframes (cypher and/or shark patterns). Because of the fact that I think this pair will be going down for a while now (also see my previous idea's) this bat setup could be seen as counter-trend trading.
I will therefor take at least 70-80% at TP1, and only a possible 20-30% remaining part at TP2. I will trail SL to just below the bat X level (careful traders might trail to BE) if we get to TP1.
SL should be below X, some people might have it a bit higher than me (say 0.9660) but I prefer to have at least somewhat more wiggle-room (be it only 5-6 pips...), allthough this will get me a less favourable R/R...
Good luck!
I will therefor take at least 70-80% at TP1, and only a possible 20-30% remaining part at TP2. I will trail SL to just below the bat X level (careful traders might trail to BE) if we get to TP1.
SL should be below X, some people might have it a bit higher than me (say 0.9660) but I prefer to have at least somewhat more wiggle-room (be it only 5-6 pips...), allthough this will get me a less favourable R/R...
Good luck!
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