USDCHF reversing below our stop loss resistance, remain bearish
Sell below 0.9874. Stop loss at 0.9896. Take profit at 0.9786.
Reason for the trading strategy (technically):
Price has reversed nicely below our stop loss yesterday. We look to remain bearish below 0.9874 resistance (Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a further push down to at least 0.9786 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) has good downside potential for our remaining drop.
Reason for the trading strategy (technically):
Price has reversed nicely below our stop loss yesterday. We look to remain bearish below 0.9874 resistance (Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a further push down to at least 0.9786 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) has good downside potential for our remaining drop.
Trade closed: target reached
Oh no too many pips to hold! Remember to treat your family to a good meal this weekend with the money you made ;)
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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.