[B]Currency Pair: [/B]GBPCHF
[B]Entry Zone:[/B] Go both long and short at the market if the price is at any level within the 2.3500-2.4400 range
[B]Protective Stop:[/B] Long stop below 2.300 and short stop above 2.5000
[B]Profit Target:[/B] Long Target at 2.4400 and Short Target at 2.3500
[B]Profit Potential:[/B] 900 pips (excluding transaction costs and slippage)
The most effective way to capitalize on currencies pairs that are trapped in tight ranges is through the use of hedging. The GBPCHF is our primary target for hedging in the week ahead, with clear range-bound trade and concrete support and resistance levels. To hedge, go both long and short at the market if price stays within the above Hedging Zone. Take profits at R1 for longs and at S1 for shorts, covering losses above R2 or below S2.
The hedging feature is currently available on all accounts using FXCM’s No Dealing Desk service. For more information on FXCM hedging strategies please visit What Is A Hedge Ratio? - FXCM UK