GBPCHF Break Out Trade Opportunity
Price on the GBPCHF has moved substantially higher over the last week. This move higher has seen price burst straight through resistance, with the bulls in total control in the last few sessions of the week.
This breakout has now thrown up a potential trade for those price action traders that like trading with the trend from logical retrace areas. The resistance area that price has now broken through could act as a new support area for bulls should price retrace and move back lower.
This possible new support could prove a logical area for fresh bulls to jump into the market and for price to continue it’s move higher. If price does move back higher the next resistance comes in around 1.4685.
If price tests the support level and the level fails with price moving lower the next major support comes in around 1.4335.
GBPCHF DAILY CHART | 28TH APRIL 2013
EURGBP Pin Bar Reversal
In an earlier post in this blog we discussed a Pin Bar setup that had formed on the daily chart of the EURGBP. To read this post see here: Live EURGBP Pin Bar Price Action Setup
In the post that was made as the setup was forming, we discussed the major support level which price has now fallen lower into. Traders who took this setup have now been able to take solid profits or at the minimum protect their capital by moving to break even.
EURGBP DAILY CHART | 28TH APRIL 2013
When some one searches for his vital thing, thus
he/she wants to be available that in detail,
thus that thing is maintained over here.