Buy above 132.01. Stop loss at 130.45. Take profit at 134.15.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly from our selling area and has reached our profit target. We now prepare to buy above major support at 132.01 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a push up to 134.15 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 2.5% where we expect a bounce from.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly from our selling area and has reached our profit target. We now prepare to buy above major support at 132.01 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a push up to 134.15 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 2.5% where we expect a bounce from.