Sell below 9060. Stop loss at 9464. Take profit at 7821.
Reason for the trading strategy (technically):
We see price testing its major resistance at 9080 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing high resistance) where we expect price to react off it, pushing it to its support at 7821 (50% Fibonacci retracement, horizontal pullback support). We do have to be cautious of the intermediate support at 8453 (100% Fibonacci extension, 61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) tested its resistance at 96% where a corresponding reaction is expected.
Reason for the trading strategy (technically):
We see price testing its major resistance at 9080 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing high resistance) where we expect price to react off it, pushing it to its support at 7821 (50% Fibonacci retracement, horizontal pullback support). We do have to be cautious of the intermediate support at 8453 (100% Fibonacci extension, 61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) tested its resistance at 96% where a corresponding reaction is expected.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.