{"id":11392,"date":"2011-05-07T22:35:48","date_gmt":"2011-05-08T02:35:48","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=11392"},"modified":"2011-05-07T22:35:48","modified_gmt":"2011-05-08T02:35:48","slug":"forex-trade-of-the-week-2","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/forex-trade-of-the-week-2","title":{"rendered":"Forex trade of the week"},"content":{"rendered":"<p>A key point in the EUR\/CHF trade was when the price fractured the areas of support, which are identified by the Fibonacci retracement at level .618 % at an approximate price of 1.2800. Once those areas have been breached, we expect the trend to be lower than the previous minimums, but in turn, the price increases producing up trends. This move to the upside deceives many traders \u00a0to falsely appear that the market recovered, and is, in fact, bullish. Once the market reaches the previous high, and creates \u201cfake\u201d break outs, we can then identify that the trend is no longer up, but is now normalizing to its proper direction. Now, after having a \u201cfake\u201d recovery, the trend, headed in the proper direction, begins at the peak of the market and breaks even lower market minimums.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/snapshot-9002.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-11396\" title=\"EUR\/CHF 4\/28\/11\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/snapshot-9002-300x151.png\" alt=\"\" width=\"300\" height=\"151\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/snapshot-9002-300x151.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/snapshot-9002-1024x516.png 1024w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/snapshot-9002.png 1091w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/snapshot-9001.png\"><\/a><\/p>\n<p>As we see in the picture, we can view the projection of a down trend starting from the peak levels of the market at the price level of 1.2950 to break the minimums around to price level of 1.2700. In addition, once decided to execute the trade, the market price became extended. The real advantage is to know where to place the stop loss in the event of unexpected market movements as represented below in the 2 hour chart.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/snapshot-9122.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-11397\" title=\"EUR\/CHF 5\/04\/11\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/snapshot-9122-300x152.png\" alt=\"\" width=\"300\" height=\"152\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/snapshot-9122-300x152.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/snapshot-9122-1024x522.png 1024w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/snapshot-9122.png 1102w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Upon reaching the minimum levels, those price areas can be a bit conflicted, making this trade a final target area, with a risk\/benefit of 1 to 4.<\/p>\n<p>For more information feel free to email us at <a href=\"mailto:asalazar@smbcap.com\">asalazar@smbcap.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A key point in the EUR\/CHF trade was when the price fractured the areas of support, which are identified by the Fibonacci retracement at level .618 % at an approximate price of 1.2800. Once those areas have been breached, we expect the trend to be lower than the previous minimums, but in turn, the price increases producing up trends. This &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/forex-trade-of-the-week-2\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":816,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[446,1780,414,4676,162,530,413,407,4674,29,50,56,18,81,311,471,55,1193,653,301,1354,1349],"class_list":["post-11392","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-446","tag-alex","tag-classroom","tag-day-trading","tag-day-trading-blog","tag-from","tag-live","tag-morning","tag-one-good-trade","tag-prop-trader","tag-proprietary-trading","tag-smb","tag-smb-capital","tag-smb-training","tag-stocktwits","tag-the","tag-trade","tag-trader-education","tag-trader-training","tag-trading-blog","tag-trading-coach","tag-trading-mentor","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Forex trade of the week | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/forex-trade-of-the-week-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forex trade of the week | SMB Training\" \/>\n<meta property=\"og:description\" content=\"A key point in the EUR\/CHF trade was when the price fractured the areas of support, which are identified by the Fibonacci retracement at level .618 % at an approximate price of 1.2800. Once those areas have been breached, we expect the trend to be lower than the previous minimums, but in turn, the price increases producing up trends. This ... 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