Buy above 88.04. Stop loss at 87.59. Take profit at 89.09.
Reason for the trading strategy (technically):
Price has finally made a bullish exit of its triangle formation and continues to hover nicely above our buying entry. We remain bullish looking to buy above support at 88.04 (Fibonacci retracement, Fibonacci extension, horizontal swing low support, bullish divergence) and play the breakout from the triangle towards 89.09 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (55,3,1) is seeing bullish confirmation with a recent bullish exit of our triangle formation signalling that a change in momentum is fast approaching.
Reason for the trading strategy (technically):
Price has finally made a bullish exit of its triangle formation and continues to hover nicely above our buying entry. We remain bullish looking to buy above support at 88.04 (Fibonacci retracement, Fibonacci extension, horizontal swing low support, bullish divergence) and play the breakout from the triangle towards 89.09 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (55,3,1) is seeing bullish confirmation with a recent bullish exit of our triangle formation signalling that a change in momentum is fast approaching.
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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.