Monday, March 25, 2013

EURCHF Price Action: Fakey With Pin Trade Setup, 26/03/2013

The pair has had a failed attempt at an effective bounce from support at about 1.2168, it was sent back by its inability to break above near term resistance at about 1.2250. A Fakey with Pin Price Action Setup ensures as a result, which could possibly trigger a significant sell-off in the pair.

My Recommendation: Sell on pullback into dynamic resistance with stops above resistance.

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