Sell below 0.7295. Stop loss at 0.7340. Take profit at 0.7203.
Reason for the trading strategy (technically):
We prepare to sell on major resistance at 0.7295 (Fibonacci extension, horizontal swing high resistance, Fibonacci retracement) for a strong push down from that level to at least 0.7203 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing strong resistance at 95% and we expect a reaction from that level to push price down similarly.
Reason for the trading strategy (technically):
We prepare to sell on major resistance at 0.7295 (Fibonacci extension, horizontal swing high resistance, Fibonacci retracement) for a strong push down from that level to at least 0.7203 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing strong resistance at 95% and we expect a reaction from that level to push price down similarly.
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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.