Buy above 85.36. Stop loss at 84.39. Take profit at 86.67.
Reason for the trading strategy (technically):
We remain bullish looking to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance).
Stochastic (89,3,1) warns that we are seeing immediate resistance so we should exercise caution on this trade.
Reason for the trading strategy (technically):
We remain bullish looking to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance).
Stochastic (89,3,1) warns that we are seeing immediate resistance so we should exercise caution on this trade.
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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.