Sell below 1.3006. Stop loss at 1.3053. Take profit at 1.2929.
Reason for the trading strategy (technically):
Price has bounce up and reached our profit target. We prepare to sell below 1.3006 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a drop towards at least 1.2929 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support).
Stochastic (34,5,3) is fast approaching our 95% resistance where we expect a reaction from.
Reason for the trading strategy (technically):
Price has bounce up and reached our profit target. We prepare to sell below 1.3006 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a drop towards at least 1.2929 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support).
Stochastic (34,5,3) is fast approaching our 95% resistance where we expect a reaction from.