Potential Double Top Forming on EURUSD Hourly Chart

21 de ago. de 2017

There is potential for a double top on the hourly chart on EURUSD. Price needs to spike above 1.17889 and then close below that level for it to meet my rules. Once this happens, I would look to get short at the next bar market with first target at 1.17477 and next target at 1.17225. First target reward is 41 pips and target 2 reward is 66 pips for a total reward of 107 pips if both targets are hit. Stop loss would go to 1.18003 leaving a total risk of 23 pips, so nearly a 2:1 risk reward ratio assuming you enter at 1.17889. When first target is hit, take off half the position and roll stops to break even.

21 de ago. de 2017

Trade fechado: stop atingido

The market is a wily one. Double top formed and then next bar stopped us out.