Trade looks a bit late but yet to close below the major level.
On the daily time frame, the price chart of USDCHF has been spotted forming a chart pattern called THE DOUBLE TOP (U&U) EVE&EVE
This calls for an opportunity to open a short trade to the down side. what is double top(U&U) chart pattern?
Eve tops are more rounded looking and wider. If they have spikes, they tend to be more numerous and shorter. Many times the difference between Adam and Eve is the width of each over their entire height. Adam tops tend to remain narrow but Eve tops widen substantially over their height. When trying to decide which is which, With Eve & Eve, the two should look similar (both wide).
The Eve & Eve double top is what some call the classic double top.
As we await for more downside to come, the best price to enter this trade would be at 0.97798 with a potential 5% stop loss from entry price.
Targets to the downside are as follows: 0.97571 down to 0.96954.
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
On the daily time frame, the price chart of USDCHF has been spotted forming a chart pattern called THE DOUBLE TOP (U&U) EVE&EVE
This calls for an opportunity to open a short trade to the down side. what is double top(U&U) chart pattern?
Eve tops are more rounded looking and wider. If they have spikes, they tend to be more numerous and shorter. Many times the difference between Adam and Eve is the width of each over their entire height. Adam tops tend to remain narrow but Eve tops widen substantially over their height. When trying to decide which is which, With Eve & Eve, the two should look similar (both wide).
The Eve & Eve double top is what some call the classic double top.
As we await for more downside to come, the best price to enter this trade would be at 0.97798 with a potential 5% stop loss from entry price.
Targets to the downside are as follows: 0.97571 down to 0.96954.
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.