We are seeing a very perfect 5 wave down elliott wave structure. We are playing the graphical overlap resistance at 0.7015 as our main selling area for a drop down to 0.6920 (wave 5 projection). We’re keeping a tight stop loss at 0.7040 to give us a low-risk high-reward trade.
We can see stochastics reversing below our 81% resistance level too.
Trading Recommendations:
Sell now and below 0.7015
Stop loss at 0.7040
Take profit at 0.6920
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
We are seeing a very perfect 5 wave down elliott wave structure. We are playing the graphical overlap resistance at 0.7015 as our main selling area for a drop down to 0.6920 (wave 5 projection). We’re keeping a tight stop loss at 0.7040 to give us a low-risk high-reward trade.
We can see stochastics reversing below our 81% resistance level too.
Trading Recommendations:
Sell now and below 0.7015
Stop loss at 0.7040
Take profit at 0.6920
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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