EURUSD approaching profit target, prepare to sell
Sell below 1.1877. Stop loss at 1.1974. Take profit at 1.1728.
Reason for the trading strategy (technically):
Price has shot up and is approaching our profit target really nicely. We look to sell below major resistance at 1.1877 (Fibonacci retracement, Fibonacci extension area, horizontal overlap resistance) for a push down to at least 1.1728 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 94% where we soon expect a corresponding drop from.
Reason for the trading strategy (technically):
Price has shot up and is approaching our profit target really nicely. We look to sell below major resistance at 1.1877 (Fibonacci retracement, Fibonacci extension area, horizontal overlap resistance) for a push down to at least 1.1728 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 94% where we soon expect a corresponding drop from.
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