Thursday, July 23, 2009

Taking Profit


The EUR/CHF trade seems to be moving along well. right now it's touching the 200 day EMA off the daily chart, which should act as some sort of resistence. This is a great place to take a little profit and take a little risk off the table.




I'm still long the pair with a few remaining lots and will, or course, continue to keep a close eye on it. I'm particularly watching the retracement to the 1.5179 level (61.8% Fib Retracement). If it falls below that, i'll still be profitable and will look for another opportunity to get long. Until then, I'm keeping a few lots and hoping for another rally.













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