Double top play at resistance
After a great bull-run the major level is holding well and a double top (m-formation) is emerging.
I enjoy trading double tops and bottoms as weekly reversals around major levels so this one is no exception. The double top has a bearish pin bar on what looks to be the second shoulder of the m-formation.
The stop loss on this setup will be a mere 20 pips so I am happy to risk the 20 and get in to target a 100 pip reward.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
I enjoy trading double tops and bottoms as weekly reversals around major levels so this one is no exception. The double top has a bearish pin bar on what looks to be the second shoulder of the m-formation.
The stop loss on this setup will be a mere 20 pips so I am happy to risk the 20 and get in to target a 100 pip reward.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.