Buy above 88.92. Stop loss at 88.40. Take profit at 89.79.
Reason for the trading strategy (technically):
We look to continue to buy above major support at 88.92 (Fibonacci retracement, horizontal overlap support) for a further push up to 89.79 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is bouncing up nicely from our 5% support and still has some upside potential to go which coincides with the wise we expect in price.
Reason for the trading strategy (technically):
We look to continue to buy above major support at 88.92 (Fibonacci retracement, horizontal overlap support) for a further push up to 89.79 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is bouncing up nicely from our 5% support and still has some upside potential to go which coincides with the wise we expect in price.
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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.