TradingView
MEX_Exchange
Nov 23, 2017 2:12 AM

USDCHF profit target reached perfectly, remain bearish  Short

U.S. Dollar/Swiss FrancFXCM

Description

Sell below0.9842. Stop loss at 0.9884. Take profit at 0.9733.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target. We look to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback) for a further push down to at least 0.9733 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) tells us that we’ll be seeing a small corrective bounce to enable us to get into our position.
Comments
nallathambi8979
Thanks
More