Sell below 0.7204. Stop loss at 0.7181. Take profit at 0.7264.
Reason for the trading strategy (technically):
Price dropped absolutely perfectly from our selling area and reached our profit target. We prepare to buy above major support at 0.7204 (Fibonacci retracement, horizontal overlap support) for a bounce up to at least 0.7264 resistance (Fibonacci extension, horizontal swing high resistance, Fibonacci retracement).
Stochastic (34,5,3) is seeing strong support above 2.6% where we expect a bounce from.
Reason for the trading strategy (technically):
Price dropped absolutely perfectly from our selling area and reached our profit target. We prepare to buy above major support at 0.7204 (Fibonacci retracement, horizontal overlap support) for a bounce up to at least 0.7264 resistance (Fibonacci extension, horizontal swing high resistance, Fibonacci retracement).
Stochastic (34,5,3) is seeing strong support above 2.6% where we expect a bounce 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.