Sell below 0.7423. Stop loss at 0.7461. Take profit at 0.7332.
Reason for the trading strategy (technically):
Price is hovering above key support level at 0.7423 (Fibonacci retracement, horizontal overlap support) and we plan to sell on the break of such a key support for a push down to at least 0.7332 support (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance below 94% where we expect a further drop from soon. Confirmation of the break of our key support on price is needed to confirm our move down.
Reason for the trading strategy (technically):
Price is hovering above key support level at 0.7423 (Fibonacci retracement, horizontal overlap support) and we plan to sell on the break of such a key support for a push down to at least 0.7332 support (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance below 94% where we expect a further drop from soon. Confirmation of the break of our key support on price is needed to confirm our move down.
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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.