By: Dima Chernovolov
I recently subscribed to Autochartist’s latest e-mail feature and received this trade opportunity alert. Autochartist’s latest feature provides traders with a quick morning technical outlook of the markets.
As you can see from the following trade opportunity alert that I received today via Autochartist’s email subscription, GBP/CHF has been recently moving inside the Triangle chart pattern identified by Autochartist on the daily charts. The pair just broke up the upper resistance trendline of this chart pattern and is expected to rise further toward the target level 1.4464 in 2 trading days. This target level (point B on the chart below) corresponds to the last connecting point of the upper resistance trendline of this chart pattern. Autochartist sets the stop level for this bullish forecast at 1.40735 (point A). The Volatility Analysis, shown below, confirms this forecast.
As you can see from the following Volatility Analysis chart for this pair, the upper boundary of the daily Expected Price Range calculated for GBP/CHF (1.4461) stands within a few pips of the target level given in the above trade alert (1.4464) – which heightens the probability that this forecast will soon be realized.
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