USDCHF profit target reached perfectly, prepare to buy
Buy above 0.9431. Stop loss at 0.9398. Take profit at 0.9528.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly to our profit target. We prepare to buy above major support at 0.9431 (Fibonacci extension, horizontal swing low support, bullish price action) for a push up to at least 0.9528 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing major support above 3.46% and we expect a corresponding bounce above that level similar to the one we’re expecting on price.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly to our profit target. We prepare to buy above major support at 0.9431 (Fibonacci extension, horizontal swing low support, bullish price action) for a push up to at least 0.9528 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing major support above 3.46% and we expect a corresponding bounce above that level similar to the one we’re expecting on price.