AUDCHF has been on a recent downtrend and formed a double top with broken neckline. There is also an RSI bearish divergence. I am placing a sell limit order at the 61.8 Fibonacci retracement level of the right top to the swing low. The stop loss is just above the right top while the take profit target is at the swing low. I will cancel the pending order if price does not retrace to my entry level before going to TP1. Trade details are as follows:
Trade Setup: Double Top-2618
Price Entry 0.72340
SL 0.72628 | SL pips 28.8
TP1 0.71984 | TP1 pips 35.6
RRR1 1.24
Trade Setup: Double Top-2618
Price Entry 0.72340
SL 0.72628 | SL pips 28.8
TP1 0.71984 | TP1 pips 35.6
RRR1 1.24
Trade closed: stop reached:
SL hit! (November 28)