USDCAD: Double Top Pattern at Key Resistance Zone

28 thg 6, 2018

Price has formed a double top pattern at a key resistance zone better seen at the daily chart below. The pattern forms at a level where we do have the fib projections of previous uptrends in addition to previous structure.

Selling the breakout of the pattern's neckline is our option..!

Daily Chart (Resistance Zone)


RSI is overbought

28 thg 6, 2018

Giao dịch đang hoạt động

Price broke below the trendline. Sell orders got filled. Let's go!

28 thg 6, 2018

Ghi chú

I get questions about sl and tp for this setup. Sl should be placed above the double top highs - 1.3400.. As for tp for those who wish to set and foregt a target 1.30500 would be a realistic level. I will update when we should move our stops to BE for a risk free trade..!

29 thg 6, 2018

Ghi chú

Price is dropping for good..! Move your stops at BE and enjoy a risk free trade ;)