Buy above 0.7238. Stop loss at 0.7201. Take profit at 0.7335.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7238 (multiple Fibonacci retracement, horizontal pullback support, Fibonacci extension) where we expect a strong bounce from to push price all the way up to 0.7335 resistance (Fibonacci extension, horizontal swing high resistance) once again.
Stochastic (34,3,1) is seeing strong support above 3.64% and we expect a bounce above that level once it reaches there.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7238 (multiple Fibonacci retracement, horizontal pullback support, Fibonacci extension) where we expect a strong bounce from to push price all the way up to 0.7335 resistance (Fibonacci extension, horizontal swing high resistance) once again.
Stochastic (34,3,1) is seeing strong support above 3.64% and we expect a bounce above that level once it reaches there.
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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.