Buy above 0.7335. Stop loss at 0.7201. Take profit at 0.7291.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area and has started to retrace. We prepare to buy once again on major support at 0.7225 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a bounce up once again to 0.7291 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 2% where we expect a similar bounce from.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area and has started to retrace. We prepare to buy once again on major support at 0.7225 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a bounce up once again to 0.7291 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 2% where we expect a similar 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.