Buy above 133.83. Stop loss at 133.39. Take profit at 134.81.
Reason for the trading strategy (technically):
Price is starting to bounce nicely off 133.83 support (Fibonacci retracement, horizontal overlap support, bullish price action) and we expect to see a strong bounce above this level to push price up to at least 123.81 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,3,1) is seeing strong support above 6.1% where a corresponding bounce is expected.
Reason for the trading strategy (technically):
Price is starting to bounce nicely off 133.83 support (Fibonacci retracement, horizontal overlap support, bullish price action) and we expect to see a strong bounce above this level to push price up to at least 123.81 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,3,1) is seeing strong support above 6.1% where a corresponding bounce is expected.
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.