Sell below 0.7247. Stop loss at 0.7300. Take profit at 0.7178.
Reason for the trading strategy (technically):
Price has bounced up nicely from our buying area and reached our profit target. We prepare to sell below major resistance at 0.7247 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to at least 0.7178 support (Fibonacci extension, horizontal swing low support) once again.
Stochastic (21,3,1) is seeing strong resistance at 95% where we expect a drop from.
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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.