USDCHF profit target reached perfectly, prepare to turn bearish
Sell below 1.0030. Stop loss at 1.0071. Take profit at 0.9961.
Reason for the trading strategy (technically):
Price shot up and reached our profit target perfectly. We now prepare to turn bearish below 1.0030 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to 0.9961 support (Fibonacci retracement, recent swing low support, horizontal overlap support).
RSI (34) is approaching major resistance at 69%.
Reason for the trading strategy (technically):
Price shot up and reached our profit target perfectly. We now prepare to turn bearish below 1.0030 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to 0.9961 support (Fibonacci retracement, recent swing low support, horizontal overlap support).
RSI (34) is approaching major resistance at 69%.
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