Sell below 0.7342. Stop loss at 0.7376. Take profit at 0.7251.
Reason for the trading strategy (technically):
Price has bounced up from our buying area and reached our profit target perfectly. We prepare to sell below major resistance at 0.7342 (Fibonacci extension, horizontal swing high resistance) for a push down to at least 0.7251 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 95% where we expect a reaction from to push price down.
Reason for the trading strategy (technically):
Price has bounced up from our buying area and reached our profit target perfectly. We prepare to sell below major resistance at 0.7342 (Fibonacci extension, horizontal swing high resistance) for a push down to at least 0.7251 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 95% where we expect a reaction from to push price down.
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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.