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Candlesticks and Ichimoku Intraday |
Written by Action Forex |
Mar 29 11 12:51 GMT
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USD/CHF - 0.9209
Original strategy :
Bought at 0.9155, Target: 0.9260, Stop: 0.9130
New strategy :
Hold long entered at 0.9155, Target: 0.9260, Stop: 0.9155
Current anticipated rebound signals the correction form 0.9235 has ended at 0.9140 and bullishness remains for a retest of said resistance, break there would confirm the upmove from 0.8853 low has resumed for a stronger retracement of early downtrend to previous support at 0.9269 but loss of near term upward momentum should limit upside to previous minor resistance at 0.9316.
In view of this, we are holding on to our long position entered at 0.9155. Only below 0.9124-31 (previous resistance and current level of the Ichimoku cloud bottom) would signal a temporary top is formed and bring correction to 0.9100 but reckon 0.9077 (61.8% Fibonacci retracement of 0.8979 to 0.9234) would hold.

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About the Author
Candlesticks Intraday Trade Ideas Update Schedule (GMT):
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Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF
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