Buy above 88.68. Stop loss at 88.33. Take profit at 89.47.
Reason for the trading strategy (technically):
Price continues to rise in our bullish channel. We look to buy on weakness above major support at 88.68 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a further rise towards 89.47 resistance (Fibonacci extension, horizontal swing high resistance).
RSI (34) remains above our ascending support line signalling that we have not seen the end of our bullish momentum.
Reason for the trading strategy (technically):
Price continues to rise in our bullish channel. We look to buy on weakness above major support at 88.68 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a further rise towards 89.47 resistance (Fibonacci extension, horizontal swing high resistance).
RSI (34) remains above our ascending support line signalling that we have not seen the end of our bullish momentum.
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.
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.