The strong early-week performance from the USD/CHF has brought parity into view once again. A defined triple-top pattern on the daily time frame (.9990-.9985) offers a good trade location to the short.
Here is the plan:
1)Entry: Sell, .9985
2)Stop Loss: 1.0026
3)Profit Target: .9944
4)Risk vs Reward Ratio: 1/1
The location of the triple-top illustrates resistance being present just beneath 1.0000. In the event price tests this level yet again, a sell will capitalize on another rejection of parity.
Here is the plan:
1)Entry: Sell, .9985
2)Stop Loss: 1.0026
3)Profit Target: .9944
4)Risk vs Reward Ratio: 1/1
The location of the triple-top illustrates resistance being present just beneath 1.0000. In the event price tests this level yet again, a sell will capitalize on another rejection of parity.