Today's FOREX Trade of the Day was a long CHF/JPY position.
Entry Buy: 112.98
Exit Sell: 113.39
Notional Intraday Profit: +41 pips
Today's intraday Low of of 112.98 was right around the 61.8% retracement of the range from 2 October through 16 October, rendering the retracement level a profitable Entry Buy level.
Today's intraday High of 113.42 was right around the 76.4% retracement level of the October intramonth range, rendering the retracement level a profitable Exit Sell level.
Look how the the October intramonth Low is right around the 23.6% retracement of the range from the April 2013 Low through the December 2013 High.
Upside price objectives include 113.82 and 114.55.
Downside price objectives include 112.64 and 111.87.
Trade Market Options
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http://goo.gl/cEJnBZ
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