Sell below 111.62. Stop loss at 112.18. Take profit at 110.49.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell below major resistance at 111.62 (Fibonacci retracement, minor pullback resistance) for a drop towards at least 110.49 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is approaching major resistance at 94% where we have seen price react off multiple times historically.
Correlation analysis: We’re expecting general JPY weakness with drops expected on EURJPY and USDJPY.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell below major resistance at 111.62 (Fibonacci retracement, minor pullback resistance) for a drop towards at least 110.49 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is approaching major resistance at 94% where we have seen price react off multiple times historically.
Correlation analysis: We’re expecting general JPY weakness with drops expected on EURJPY and USDJPY.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.