Klimex
Short

EURCHF Approaching Resistance, Potential Reversal

FX:EURCHF   Euro / Swiss Franc
EURCHF is approaching its resistance at 1.1305 (100% Fibonacci extension , 38.2% & 61.8% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse to its support at 1.1248 (61.8% Fibonacci extension , 76.4% Fibonacci retracement ).
Stochastic (21, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
I see you also have a bearish bias on EURCHF. I like your resistance levels. I'm having some trouble figuring out where the 0 and 100% levels are for your two fibonacci ranges. Your target level looks good too. I like to take profits a bit before reaching the level, I don't think those last few pips are worth it. I think on my chart I set the stop loss a bit too tight. I should have adjusted the trendline to connect better on the hourly chart and also considered the resistance level you have as "1st" which would have allowed me to get a tighter entry (and more profit).
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