Trading Triangles - USDCHF Trade

I just posted a trading method here. Its an old, tried and tested method and I was reminded of it when I was reading the April issue of tradersonline-mag.com.

So I decided to take on a trade for USDCHF (which has been a bitch in the last few days), because this trade really annoyed the hell out of me. I had gone short couple of days back and price was moving in a really tight range. And on top of this I had added to my positions, so you can imagine how difficult it was to see the trade move to positive pips.

Thanks to Stochastics, I would have given up on this trade and taken my losses, but better sense prevailed.

So I decided to whack the hell out of USDCHF. Below is the chart with a Pending SELL order (it will take a few days for the order to be triggered).

Trade Recommendation
Pending SELL Order
Entry: 0.935
Stop Loss: 0.95122
Target: 0.915

Well, I already entered this trade (on a demo account) just to see how it will work out because currently price is about 189 pips away from our entry. Let's see how it goes. I'm expecting to ride the USDCHF once it bottoms out, because from a Wolfe Wave perspective, it would mark the beginning of the trade from Wave 5 (which is where our target price is).

So if I managed to make some pips on both the short and future long entry, I think I would have taken my revenge on Swiss Franc.