Buy above 0.7247. Stop loss at 0.7178. Take profit at 0.7341.
Reason for the trading strategy (technically):
Price has dropped perfectly to our profit target. We prepare to buy above major support at 0.7247 (Fibonacci extension, Fibonacci retracement, horizontal swing low support) for a bounce up to at least 0.7341 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 1.8% where we expect a bounce from.
Reason for the trading strategy (technically):
Price has dropped perfectly to our profit target. We prepare to buy above major support at 0.7247 (Fibonacci extension, Fibonacci retracement, horizontal swing low support) for a bounce up to at least 0.7341 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 1.8% where we expect a 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.