Sell below 88.09. Stop loss at 88.71. Take profit at 86.69.
Reason for the trading strategy (technically):
Price is testing major resistance at 88.09 (Fibonacci retracement, horizontal swing high resistance) and we expect a strong drop from this level towards 86.69 support (Fibonacci retracement, horizontal support).
Stochastic (55,3,1) is seeing major resistance at 99% and is starting to drop nicely signalling a further drop could be expected.
Reason for the trading strategy (technically):
Price is testing major resistance at 88.09 (Fibonacci retracement, horizontal swing high resistance) and we expect a strong drop from this level towards 86.69 support (Fibonacci retracement, horizontal support).
Stochastic (55,3,1) is seeing major resistance at 99% and is starting to drop nicely signalling a further drop could be expected.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.