We look to sell once more at 122.95 resistance (Fibonacci extension, horizontal resistance) for a push down to 121.15 support (Fibonacci retracement, horizontal overlap support). We keep our stop loss tight at 123.42 which is above the most recent swing high resistance, so we have a good risk to reward target for this trade.
Stochastic (21,5,3) is seeing major resistance at the 96% level.
Sell below 122.95. Stop loss at 123.42. Take profit at 121.15.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
We look to sell once more at 122.95 resistance (Fibonacci extension, horizontal resistance) for a push down to 121.15 support (Fibonacci retracement, horizontal overlap support). We keep our stop loss tight at 123.42 which is above the most recent swing high resistance, so we have a good risk to reward target for this trade.
Stochastic (21,5,3) is seeing major resistance at the 96% level.
Sell below 122.95. Stop loss at 123.42. Take profit at 121.15.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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