Friday 21 March 2014

Forex 21st March 2014 : Short GBPCHF

GBPCHF is in a down trend on the 1D chart and has made a pretty decent bearish shooting star rejecting the EMAs


Chart courtesy of www.IncredibleCharts.com


Depending on your own predilections you could short this right here or look for either a retrace into / break out of the shooting star.  I like to find a trail in the 4H charts and take it from there.  So  my order would be short a retrace into 1.4624 with a stop at 1.4660 and a target of 1.4501 for an wasy 1:3 Risk : Reward if it plays out.

Chart courtesy of www.IncredibeCharts.com



Disclaimer
I am not a financial adviser.  These are paper trades.  I am not suggesting you follow these signals.  If you take any action based on my blog you do so at your own risk.

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