Buy above 119.64. Stop loss at 119.16. Take profit at 120.66.
Reason for the trading strategy (technically):
Price dropped perfectly and reached our profit target we have been targeting for the entire of last week. We now turn bullish above 119.64 support (Fibonacci retracement, Fibonacci extension, horizontal support). Target would be 120.66 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is seeing strong support above the 6.4% level.
Reason for the trading strategy (technically):
Price dropped perfectly and reached our profit target we have been targeting for the entire of last week. We now turn bullish above 119.64 support (Fibonacci retracement, Fibonacci extension, horizontal support). Target would be 120.66 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is seeing strong support above the 6.4% level.
