Sell below 88.40. Stop loss at 88.66. Take profit at 87.91.
Reason for the trading strategy (technically):
Price rose to our selling area and reacted off it perfectly to drop right to our profit target once again. We look to once again sell on major resistance at 88.40 ( Fibonacci retracement , horizontal overlap resistance, Fibonacci extension ) for a drop to at least 87.91 ( Fibonacci extension , horizontal swing low support).
Stochastic (21,5,3) is seeing major resistance below 96% where a corresponding drop could occur
Reason for the trading strategy (technically):
Price rose to our selling area and reacted off it perfectly to drop right to our profit target once again. We look to once again sell on major resistance at 88.40 ( Fibonacci retracement , horizontal overlap resistance, Fibonacci extension ) for a drop to at least 87.91 ( Fibonacci extension , horizontal swing low support).
Stochastic (21,5,3) is seeing major resistance below 96% where a corresponding drop could occur
https://telegram.me/fxtradingroom --> join the waiting list for our free live trading room!
I need to study Fibs as it seems I may be doing them incorrectly.