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| Discuss Usd/chf at the Forex within the Traderji.com - Discussion forum for Stocks Commodities & Forex; USD/CHF Current Rate: 1.0848 Prices falling in a potential channel (See attached Image). ... |
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#1
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USD/CHF
Current Rate: 1.0848 Prices falling in a potential channel (See attached Image). We hope to see some support at the channel line support coinciding with the 138.2% extension level (around 1.0808) of the first move down forming the range of the potential channel – from the high on 2/14/08 to the low on 2/15/08. In the light of this short analysis, we would enter the following for Monday, February 24, 2008. Long at 1.0810, stop at (1.0780), targeting 1.0950. |
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#2
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Quote:
Regards, --Ashish |
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#3
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Agreed. And I anticipate that would be the case. However, I think we'd only trade it after it confirms.
However, because prices did not hit the assessed level, I'd like to revise my entry point to 1.0783 (for February 27), with a hard stop at 1.0750. The first target remains the same. |
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#4
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Think it was a good call to wait for the 27th. The move has rendered the trade redundant.
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