Price bounced perfectly above our buying level and reached our profit target. We now turn bearish below strong resistance at 122.21 (Fibonacci retracement, horizontal overlap resistance) for a drop to at least 121.11 support (Fibonacci retracement, Fibonacci projection, horizontal support).
Stochastic (21,5,3) is approaching 92% resistance from where we expect a reaction.
Sell below 122.21. Set stop loss at 122.68 and take profit at 121.11.
No comments:
Post a Comment