Sell below 0.7202. Stop loss at 0.7153. Take profit at 0.7331.
Reason for the trading strategy (technically):
Price has bounced up nicely as expected from our buying area. We remain bullish looking to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a further push up to at least 0.7331 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is seeing major support above 3.3% where we’re seeing a corresponding bounce from along with good upside potential.
Reason for the trading strategy (technically):
Price has bounced up nicely as expected from our buying area. We remain bullish looking to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a further push up to at least 0.7331 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is seeing major support above 3.3% where we’re seeing a corresponding bounce from along with good upside potential.
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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.