Sell below 0.8059. Stop loss at 0.8083. Take profit at 0.7984.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.8059 (Multiple Fibonacci extensions, horizontal swing high resistance, Fibonacci retracement) and we expect a major reaction off that level to push price all the way down to 0.7984 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance below 94% where we expect a strong reaction from.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.8059 (Multiple Fibonacci extensions, horizontal swing high resistance, Fibonacci retracement) and we expect a major reaction off that level to push price all the way down to 0.7984 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance below 94% where we expect a strong reaction from.