Buy above 0.7303. Stop loss at 0.7243. Take profit at 0.7409.
Reason for the trading strategy (technically):
Price is approaching strong support at 0.7303 (Fibonacci retracement, swing low support, bullish price action) and we expect a bounce above this level to push price up to at least 0.7409 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing strong support above 3.9% where we expect a bounce from.
Reason for the trading strategy (technically):
Price is approaching strong support at 0.7303 (Fibonacci retracement, swing low support, bullish price action) and we expect a bounce above this level to push price up to at least 0.7409 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing strong support above 3.9% where we expect a bounce 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.