Sell below 133.19. Stop loss at 133.87. Take profit at 131.73.
Reason for the trading strategy (technically):
Price is testing major resistance at 133.19 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction from this level to push price down to at least 131.73 support (Fibonacci retracement, horizontal pullback support) once again.
Stochastic (34,3,1) is seeing strong resistance at 96% and we expect a strong reaction from this level to correspondingly push price down.
Reason for the trading strategy (technically):
Price is testing major resistance at 133.19 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction from this level to push price down to at least 131.73 support (Fibonacci retracement, horizontal pullback support) once again.
Stochastic (34,3,1) is seeing strong resistance at 96% and we expect a strong reaction from this level to correspondingly push price down.