This double bottom pattern has formed on the daily chart of the USD/CHF currency pair after a long downtrend. It is now providing a potential bullish breakout opportunity. The two bottoms are marked with the lower yellow line; the neckline is marked with the upper 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 low of the breakout candle or to the low of the preceding candle should the breakout one appear mostly outside the pattern's borders. I will ignore bearish breakouts from this trend-reversal pattern.
Trade active:
The pattern has transformed into a triple bottom. Long entry triggered at 9:02 UTC yesterday. Open price = 0.93596, SL = 0.92274, TP = 0.94781.
Trade closed: stop reached:
Stop-loss reached at 8:11 UTC today.
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