Short .618 retracement of Double Top
This is my first independent analysis/trade set up, so be gentle. I don't know if it will complete or not. I am more looking to put this out there for some validation or correction as opposed to offering any kind of trade advice.
120 min chart Double Top completed
Retracement closed below DT V
Entry @ .618 level - 1.0713
SL DT swing high +10 pips - 1.0756
Target #1 1.0662 for 1/2 position
Target #2 roll SL to break even -10 (.0700) and last 1/2 Limit @ 1.0620
Risk : Reward is a little better than 1:1
120 min chart Double Top completed
Retracement closed below DT V
Entry @ .618 level - 1.0713
SL DT swing high +10 pips - 1.0756
Target #1 1.0662 for 1/2 position
Target #2 roll SL to break even -10 (.0700) and last 1/2 Limit @ 1.0620
Risk : Reward is a little better than 1:1
Yorum:
Obviously after the 130+ push down, the set up is no longer valid.