July 29, 2008 02:47

Technical Analysis – USD/CHF Double-Top Formation

Posted In: Technical Analysis
By:

7-29-08

1:43a GMT – The USD/CHF has formed a double-top formation on the 4H and 60M charts (easier to see on the 4H below) with 1.0400 capping possible gains. The double-top formation indicates further losses below the “neckline”.

Trading Idea: Aggressive traders may enter short below 1.0310 whereas more conservative traders might wait until at least 1.0295 to confirm the signal. Short targets at 1.0270, 1.0215 and 1.0160. If top is broken look for more gains and a retest of 1.0435.

(click to enlarge)
Double Top Formation - Forex

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2 Comments on "Technical Analysis – USD/CHF Double-Top Formation"
  1. Comment left on:
    July 29, 2008 at 07:18
    Fasoiro Oluwole says:

    I just want to commend you for sparing your time to do this great job.Thanks indeed

  2. Avatar of piphut
    Comment left on:
    July 29, 2008 at 07:19
    piphut says:

    You are welcome and thanks for the feedback!

    Mark

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