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.
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