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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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.