Friday, February 24, 2012

EUR/CHF Update

I am still in my EURCHF trade.   The price action so far has been encouraging even though the breakout hasn't been spectacular.
The yellow area shows that the price reacted at my previously predicted "congestion" area.   The green circle is a classic action with this pattern...where the price retraces to the funnel level (sometimes it goes into the middle of the funnel or even to the top)....I refer to the green circle level as " a second chance entry" and sometimes I look for these as entry points instead of the initial breakout).

So.....technically speaking, there is no reason to take any action today.   However, as today is Friday,  I will monitor the trade and make a decision later today as to whether |I should leave it running over the weekend or close it before COB tonight.

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