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MEX_Exchange
Dec 4, 2017 5:20 AM

USDCHF profit target reached perfectly, remain bearish  Short

U.S. Dollar/Swiss FrancFXCM

Description

Sell below 0.9787. Stop loss at 0.9836. Take profit at 0.9671.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target. We look to sell on the break of strong support at 0.9787 for a further push down to at least 0.9671 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support).
Stochastic (34,3,1) is telling us that we’ll likely see a bounce any further sideways price action before a drop to confirm our bearish move.
Comments
thejuveniletrader
Is this a good pair to enter in? Because there's a gap up close to the SL. I hope you reply
ChangoMansira
@thejuveniletrader, great r/r ratio at this time :-)
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