5PMTrader

GBPCHF - Double top in play?

FX:GBPCHF   British Pound/Swiss Franc
36 1 0
As can be seen, the pair made a double top. If you collapse the chart further or switch to a weekly chart, you will see that this level has been respected many times in the past so I am expecting some sort of reaction at this level.

I'd wait for the price to retrace a little before entering so as to get a better risk - reward profile. Looking for a 3 to 1 RR trade.

Good luck :)
ForceFollower
2 years ago
Such a structure often spawns a deeper correction indeed.
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