Double Top on USD/CHF @ D1
Updated
This double top pattern has formed on the daily chart of the USD/CHF currency pair and is now offering a potential bearish breakout opportunity. The two tops are marked with the upper yellow line; the neckline is marked with the lower yellow line. My potential entry level is at the cyan line. My potential take-profit level is at the green line. A stop-loss (not shown on the chart) can be set to the high of the breakout candle or to the high of the preceding candle should the breakout one be mostly outside the pattern's borders. I will ignore bullish breakouts from this trend-reversal pattern.
Trade active
It has finally triggered after developing a third "sub-top". The entry price is 0.94916 with SL = 0.95934, TP = 0.90238.Trade closed: stop reached
Stop-loss hit today at 8:54 UTC.
You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.