USDCHF profit target reached perfectly, prepare to sell
Sell below 0.9756. Stop loss at 0.9785. Take profit at 0.9679.
Reason for the trading strategy (technically):
Price has shot up perfectly and reached our profit target yesterday. We prepare to sell below major resistance at 0.9756 (Fibonacci extension, horizontal swing high resistance) for a push down to at least 0.9679 support, Fibonacci extension, Fibonacci retracement, horizontal swing low support).
RSI (34) sees a long term descending resistance line signalling that we’re starting to see bearish momentum.
Reason for the trading strategy (technically):
Price has shot up perfectly and reached our profit target yesterday. We prepare to sell below major resistance at 0.9756 (Fibonacci extension, horizontal swing high resistance) for a push down to at least 0.9679 support, Fibonacci extension, Fibonacci retracement, horizontal swing low support).
RSI (34) sees a long term descending resistance line signalling that we’re starting to see bearish momentum.