Sell below 0.7245. Stop loss at 0.7351. Take profit at 0.7095.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7245 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction off that level for a push down to at least 0.7095 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% and we expect to see a strong reaction off that level which corresponds to the drop we’re expecting on price too.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7245 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction off that level for a push down to at least 0.7095 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% and we expect to see a strong reaction off that level which corresponds to the drop we’re expecting on price too.
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.