Buy above 0.7537. Stop loss at 0.7496. Take profit at 0.7629.
Reason for the trading strategy (technically):
Price has continued its drop perfectly towards our profit target. We look to buy above major support at 0.7537 (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7629 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,3,1) is seeing support above 1.3% where we expect a corresponding bounce from.
Reason for the trading strategy (technically):
Price has continued its drop perfectly towards our profit target. We look to buy above major support at 0.7537 (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7629 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,3,1) is seeing support above 1.3% where we expect a corresponding bounce from.
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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.