Buy above 0.7520. Stop loss at 0.7440. Take profit at 0.7730.
Reason for the trading strategy:
Price dropped perfectly as expected and reached our profit target. We now turn bullish above 0.7520 support (Fibonacci retracement, horizontal overlap support) for a push up to 0.7730 (Fibonacci extension, horizontal swing high resistance).
RSI (34) sees long term ascending support holding price up.
Stochastic (21,5,3) sees long term support at 2.5% holding price up too.
Reason for the trading strategy:
Price dropped perfectly as expected and reached our profit target. We now turn bullish above 0.7520 support (Fibonacci retracement, horizontal overlap support) for a push up to 0.7730 (Fibonacci extension, horizontal swing high resistance).
RSI (34) sees long term ascending support holding price up.
Stochastic (21,5,3) sees long term support at 2.5% holding price up too.
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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.
Related publications
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.