Sell below 129.60. Stop loss at 130.15. Take profit at 128.53
Reason for the trading strategy (technically):
Price is approaching major resistance at 129.60 (Fibonacci retracement, horizontal overlap resistance) and we’re expecting a strong reaction off this level for price to make a push down to at least 128.53 support (Fibonacci extension, horizontal swing low support).
Stochastic (21,5,3) is seeing major resistance below 94% where we expect a reaction from.
Reason for the trading strategy (technically):
Price is approaching major resistance at 129.60 (Fibonacci retracement, horizontal overlap resistance) and we’re expecting a strong reaction off this level for price to make a push down to at least 128.53 support (Fibonacci extension, horizontal swing low support).
Stochastic (21,5,3) is seeing major resistance below 94% where we expect a reaction from.