Sell below 135.91. Stop loss at 136.38. Take profit at 134.84.
Reason for the trading strategy (technically):
Price is now testing major resistance at 135.91 ( Fibonacci retracement , Fibonacci extension , horizontal overlap resistance, bearish divergence) and we expect a strong drop from this level towards 134.84 support ( Fibonacci retracement ) first.
Stochastic (34,5,3) is seeing major resistance below 95% and a bearish divergence vs price also signals that a reversal is impending.
Reason for the trading strategy (technically):
Price is now testing major resistance at 135.91 ( Fibonacci retracement , Fibonacci extension , horizontal overlap resistance, bearish divergence) and we expect a strong drop from this level towards 134.84 support ( Fibonacci retracement ) first.
Stochastic (34,5,3) is seeing major resistance below 95% and a bearish divergence vs price also signals that a reversal is impending.
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Kandi
Thanks
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