USDCHF Approaching Resistance, Prepare For A Reversal
Sell below 0.9713.
Stop loss 0.9740.
Take profit at 0.9655.
Reason for the trading strategy (technically):
USDCHF is approaching its resistance at 0.9713 (61.8% Fibonacci extension, 61.8% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 0.9655 (horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 95% where a corresponding reversal is expected.
Stop loss 0.9740.
Take profit at 0.9655.
Reason for the trading strategy (technically):
USDCHF is approaching its resistance at 0.9713 (61.8% Fibonacci extension, 61.8% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 0.9655 (horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 95% where a corresponding reversal is expected.
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