Sell below 88.76. Stop loss at 89.38. Take profit at 87.92. Reason for the trading strategy (technically): Price continues to test our selling area. We remain bearish looking to sell below major resistance at 88.76 (Multiple Fibonacci retracements, horizontal swing high resistance, Fibonacci extension) for a push down to at least 87.92 support (Fibonacci retracement, horizontal overlap support). Stochastic (55,3,1) is seeing major resistance at 98% and turning down nicely with good downside potential.
I would like to thank you for teaching us how to use correctly the Stochastic on the one hour chart. I would like to know why you're not considering the alignment of the up fractals in the above chart. Starting from the retracement you trace a line coming from the first lower high then you go to the top of the second high then you should meet the 88.9x level which is currently the higher high. That might explain the gap between the 88.76 Sell entry and the double peaks above it. So combining the horizontal line and the ascending line we might have a higher accuracy in the entry Sell above.
MEX_Exchange
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@parisseine, I'm glad I could help :) Could you post a picture of what you mean?
parisseine
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@MEX_Exchange, No idea how to add a chart to that comment. Investing is also using the tradingview chart engine. My chart can be seen here invst.ly/5jdey
picemagta
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Do you ever consider the fundamental perspectives of AUDJPY?