Sell below 0.6885. Stop loss at 0.6922. Take profit at 0.6823.
Reason for the trading strategy (technically):
Price has risen further and is now testing major resistance at 0.6885 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bearish price action) and we expect to see a corrective drop from here to at least 0.6823 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance below 89% where we expect a corresponding drop from.
Reason for the trading strategy (technically):
Price has risen further and is now testing major resistance at 0.6885 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bearish price action) and we expect to see a corrective drop from here to at least 0.6823 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance below 89% where we expect a corresponding drop from.
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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.