Risk Management Plan For AUD/CHF Short Position
ICN.com | Mar 30, 2015 06:36AM ET
In our previous technical comment on the AUD/CHF pair, the pair was valued at 0.7575 we have proposed further depreciation below the initial support-turned into resistance- at 0.7480, marked by 61.8% Fibonacci retracement.
The AUD/CHF pair has respected our bearish outlook, achieving a daily closing below this level influenced by the negative signs on MACD, RSI14 and the coverage from Parabolic SAR.
Risk Management Plan:
Actually, the areas between 61.8% and 50% could act now as free-fall zones; however, we will book about 150 pips profit for 50% of the quantity used to sell the AUD/CHF pair and will move our stop loss level from 0.7780 to the entry point to ensure the position completely.
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