Sell below 0.7261. Stop loss at 0.7301. Take profit at 0.7208.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7261 (Multiple Fibonacci retracements, horizontal swing high resistance) and we expect to see a strong reaction from this level to push price down to at least 0.7208 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance below 92% and we expect a corresponding reaction off this level.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7261 (Multiple Fibonacci retracements, horizontal swing high resistance) and we expect to see a strong reaction from this level to push price down to at least 0.7208 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance below 92% and we expect a corresponding reaction off this level.
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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.