USDCHF [SHORT] double top forming

Short

U.S. Dollar / Swiss Franc (OANDA:USDCHF)

OANDA:USDCHF U.S. Dollar / Swiss Franc

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trendanalysis indicator chartpattern doubletop dc95 trading

looks like a double top could form, entry below gold line. 3 possible TP's

will see how it plays out

Trade active: this is an active trade

Comment: move SL to break even, if it dosen't take TP1 then it likley wont be worth staying invested.

Trade closed: target reached: TP1 was reached - looking for TP2

Comment: It will retest the channel before dropping to TP2

Trade active: active again for TP2, retested channel as expected

Trade closed: target reached: TP2 reached - pushing for TP3

Comment: Move stop loss forward to break even

Comment: Moved stop loss again to 0.9657 level

Trade closed: target reached

Comments

Unbelievable trade, nice work !!! I tried to get in on it and messed it up :( but learned so much thanks again

do you predict will this re test as high as the 0.97675 resistance line before dropping again ?

eboratac

@eboratac, it might retest 0.97128 but wont go back upto 0.97675 its broken out of the channel now so the TP1 would act as a new resistance i think.

dc95

@dc95, Great learning allot from this trade thanks !

eboratac

@eboratac, no problem at all bud.

Hi I'm brand new to trading, due to covid-19 and job lay off, I've been studying all week, this set up you have looks strong from what I've learned and your comments and image of your chart. I'm just observing on my trading 212 account, thanks for posting this.