USDCHF back up to test major resistance once again, sell
Updated
Sell below 0.9935. Stop loss at 0.9990. Take profit at 0.9847.
Reason for the trading strategy (technically):
Price has bounced up to our selling area once again and we look to remain bearish and sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pullback resistance) for a strong push down to at least 0.9847 support (head and shoulders exit potential, swing low support, Fibonacci extension).
Stochastic (34,3,1) is seeing major resistance below 96% where we expect a strong reaction from.
Reason for the trading strategy (technically):
Price has bounced up to our selling area once again and we look to remain bearish and sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pullback resistance) for a strong push down to at least 0.9847 support (head and shoulders exit potential, swing low support, Fibonacci extension).
Stochastic (34,3,1) is seeing major resistance below 96% where we expect a strong reaction from.
Note
reversing nicely :)Note
guys, PM me for free private trading room info so I can update you guys in real-time on how we manage our positions.Trade closed: target reached
Absolutely perfect! Pips in our pockets my friends!Note
you can swing by my profile and join the telegram group there - that is the waiting list for our free private trading room :)
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