2018Jun28 EURAUD H4 Double Top
This post is an update of a previous trade idea which remains valid (tradingview.com/chart/EURAUD/7WvYOmol-2018Jun20-EURAUD-H4-Possible-Bearish-Bat/). As I was waiting for confirmation of the bearish bias, this setup became available. It is based on a double top with broken neckline and formation of a new swing low. As such, I am placing a sell limit at 1.57770 which is the 61.8 Fibonacci retracement from the right top to the swing low. Stop loss is just above the upper (right) top. The take profit targets are the same as those of the bearish bat. The trade details are as follows:
Trade Setup: Double Top
Price Entry 1.57770
SL 1.58313 | SL pips 54.3
TP1 1.56108 | TP1 pips 166.2
TP2 1.54825 | TP2 pips 294.5
TP3 1.52747 | TP3 pips 502.3
RRR1 3.06 | RRR2 5.42 | RRR3 9.25
Trade Setup: Double Top
Price Entry 1.57770
SL 1.58313 | SL pips 54.3
TP1 1.56108 | TP1 pips 166.2
TP2 1.54825 | TP2 pips 294.5
TP3 1.52747 | TP3 pips 502.3
RRR1 3.06 | RRR2 5.42 | RRR3 9.25
Trade active
June 28Trade closed: stop reached
SL hit! (July 2)
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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.
Related publications
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.