Buy above 121.11. Stop loss at 120.48. Take profit at 122.00.
Reason for the trading strategy (technically):
We remain bullish above 121.11 support (Fibonacci projection, horizontal support, Fibonacci retracement) for a bounce up to at least 122.00 resistance (Fibonacci retracement, swing high resistance).
Stochastic (21,5,3) is approaching strong support at 4.9% where we expect a bounce from.
Reason for the trading strategy (technically):
We remain bullish above 121.11 support (Fibonacci projection, horizontal support, Fibonacci retracement) for a bounce up to at least 122.00 resistance (Fibonacci retracement, swing high resistance).
Stochastic (21,5,3) is approaching strong support at 4.9% where we expect a 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.