Sell below 87.74. Stop loss at 88.06. Take profit at 86.48.
Reason for the trading strategy (technically):
Price has reached our selling area and dropped perfectly from there. We remain bearish looking to sell below major resistance at 87.74 (Fibonacci retracement, Fibonacci extension) for a push down to at least 86.48 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is reacting nicely off our 95% resistance.
Reason for the trading strategy (technically):
Price has reached our selling area and dropped perfectly from there. We remain bearish looking to sell below major resistance at 87.74 (Fibonacci retracement, Fibonacci extension) for a push down to at least 86.48 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is reacting nicely off our 95% resistance.