Sell below 0.7431. Stop loss at 0.7532. Take profit at 0.7256.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7431 (Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push price down towards 0.7256 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 95% where a corresponding reaction could occur.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7431 (Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push price down towards 0.7256 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 95% where a corresponding reaction could 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.