USDCHF Reversed Off Resistance, Prepare For Further Drop!
Sell below 0.9981.
Stop loss at 1.0000.
Take profit at 0.9942.
Reason for the trading strategy (technically):
USDCHF reversed off its resistance at 0.9981 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 0.9942 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) reversed off its resistance at 98% where a corresponding drop is expected.
Stop loss at 1.0000.
Take profit at 0.9942.
Reason for the trading strategy (technically):
USDCHF reversed off its resistance at 0.9981 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 0.9942 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) reversed off its resistance at 98% where a corresponding drop is expected.
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