empty
 
 
17.04.2013 12:42 PM
GbpChf breaks counter trendline. Book partial profits on short positions and reduce risk to 1.4350/60

This image is no longer relevant

Technical outlook and chart setups:

Looking into the 4H chart view depicted here, the single currency pair has clearly broken the counter trendline. Now it is trading well below 1.4175 mark as expected. It is suggested to book partial profits now and also reduce risk to 1.4350. This level (1.4350) is immediate resistance now, followed by 1.44 and 1.4480 respectively. On the lower side 1.4030 is the level that bears will be looking to clear immediately before a pullback materializes. Please note that major trend defining resistance is still intact at 1.4530 level, as we discussed several daysago. Till the time prices are lower, we should see lower lows and lower highs now. The trading strategy should remain selling rallies from here on.

Trading recommendations:

Remain short, book partial profits and move stop to 1.4350/60, sell rallies as well.

Good luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback