Pending Trade

Check out the USDCHF chart posted below. Price is approaching a high resistance zone very rapidly and part of the chart is beginning to look symmetrical. With price dropping this fast, it might stop for a breather, and a resistance zone is a perfect place. Because of these reasons, I'm going to to put a BUY pending trade at the resistance zone with a very tight stoploss.

BUY USDCHF

Price: 1.00321

Stoploss: 1.00200

Take-profit: 1.00726

Potential profit: 40 pips

Potential loss: 12 pips

Reward/Risk ratio: 3.33