Sell below 1.1877. Stop loss at 1.1974. Take profit at 1.1728.
Reason for the trading strategy (technically):
Price has reached our profit target perfectly. We look to sell below major resistance at 1.1877 (Fibonacci retracement, Fibonacci extension area, horizontal overlap resistance) for a push down to at least 1.1728 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 94% where we soon expect a corresponding drop from.
Reason for the trading strategy (technically):
Price has reached our profit target perfectly. We look to sell below major resistance at 1.1877 (Fibonacci retracement, Fibonacci extension area, horizontal overlap resistance) for a push down to at least 1.1728 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 94% where we soon expect a corresponding drop from.
Trade closed manually:
Closing the trade at breakeven, awaiting further price movement to decide!