Sell below 8379. Stop loss at 8679. Take profit at 7850.
Reason for the trading strategy (technically):
We see price testing its resistance at 8379 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to react off its, causing it to fall to its support at 7850 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where we expect to see a corresponding reaction.
Reason for the trading strategy (technically):
We see price testing its resistance at 8379 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to react off its, causing it to fall to its support at 7850 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where we expect to see a corresponding reaction.