Sell below 87.74. Stop loss at 88.06. Take profit at 86.48.
Reason for the trading strategy (technically):
Price has reached our profit target once again. We prepare to sell below major resistance at 87.74 (Fibonacci retracement, Fibonacci extension) for a push down to at least 86.48 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing resistance at 95% where we expect a corresponding drop similar to the one we’re expecting on price.
Reason for the trading strategy (technically):
Price has reached our profit target once again. We prepare to sell below major resistance at 87.74 (Fibonacci retracement, Fibonacci extension) for a push down to at least 86.48 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing resistance at 95% where we expect a corresponding drop similar to the one we’re expecting on price.
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.