Buy above 0.7244. Stop loss at 0.7213. Take profit at 0.7299.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7244 (Fibonacci retracement, horizontal overlap support) and we expect a bounce above this level to at least 0.7299 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is approaching strong support above 3% where we expect a bounce to occur
Reason for the trading strategy (technically):
Price is approaching major support at 0.7244 (Fibonacci retracement, horizontal overlap support) and we expect a bounce above this level to at least 0.7299 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is approaching strong support above 3% where we expect a bounce to occur
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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.