empty
 
 
19.12.2012 10:58 AM
GbpChf Preparing To Breakdown. Stay Short and Move Risk To Breakeven

This image is no longer relevant

Technical Outlook and Chart Setups:

As depicted here, prices just want to break down below the wedge support region defined by 1.4800 - 1.4820 region. A push below 1.4800 would confirm the same. Intermediary support is provided by 1.4800, followed by 1.4700, and 1.4600 respectively. On the other hand, resistance remains lined up from 1.5050/60 region, moving up to 1.5150/60 and above. It is recommended to remain short expecting prices to break down below 1.4800, also selling intraday rallies. Further selling can be made on a breakdown of 1.4800 level also.

Trading Recommendations:

Remain short, move stop loss to at least breakeven. Target is open.

Good Luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback