Sell below 0.6853. Stop loss at 0.6887. Take profit at 0.6781.
Reason for the trading strategy (technically):
Price has risen and is now testing major resistance at 0.6853 (Multiple Fibonacci retracement, overlap resistance, multiple Fibonacci extensions) and we expect to see a strong reaction off this level to push price down to at least 0.6781 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 89% where we expect a corresponding reaction from.
Reason for the trading strategy (technically):
Price has risen and is now testing major resistance at 0.6853 (Multiple Fibonacci retracement, overlap resistance, multiple Fibonacci extensions) and we expect to see a strong reaction off this level to push price down to at least 0.6781 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 89% where we expect a corresponding reaction from.
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.