Sell below 0.7431. Stop loss at 0.7532. Take profit at 0.7256.
Reason for the trading strategy (technically):
Price has started to fall really nicely from our major resistance level at 0.7431 (Fibonacci extension, horizontal swing high resistance) and we expect further bearish momentum to push price towards 0.7256 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is dropping nicely from our major resistance level at 95% and has good downside potential.
Reason for the trading strategy (technically):
Price has started to fall really nicely from our major resistance level at 0.7431 (Fibonacci extension, horizontal swing high resistance) and we expect further bearish momentum to push price towards 0.7256 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is dropping nicely from our major resistance level at 95% and has good downside potential.
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.