Sell below 109.40. Stop loss at 109.95. Take profit at 107.95.
Reason for the trading strategy (technically):
Price is approaching major resistance at 109.40 (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level for a push down to at least 107.95 support (Fibonacci retracement, fill price gap, Fibonacci extension).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a reaction from similar to the one we’re expecting on price.
Reason for the trading strategy (technically):
Price is approaching major resistance at 109.40 (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level for a push down to at least 107.95 support (Fibonacci retracement, fill price gap, Fibonacci extension).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a reaction from similar to the one we’re expecting on price.
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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.