Sell below 84.70. Stop loss at 85.71. Take profit at 83.90.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and is fast approaching our profit target. We remain bearish below 84.70 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 83.90 support (Fibonacci retracement, horizontal pullback support).
Stochastic (89,5,3) is seeing strong resistance below 90% where we expect a further drop from.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and is fast approaching our profit target. We remain bearish below 84.70 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 83.90 support (Fibonacci retracement, horizontal pullback support).
Stochastic (89,5,3) is seeing strong resistance below 90% where we expect a further drop from.