NZDUSD profit target reached perfectly, prepare to sell
Sell below 0.7329. Stop loss at 0.7371. Take profit at 0.7263.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area and has reached our profit target. We prepare to sell on major resistance at 0.7329 (Fibonacci retracement, horizontal resistance, channel resistance) for a push down to at least 0.7263 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 94% where we expect a corresponding drop from.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area and has reached our profit target. We prepare to sell on major resistance at 0.7329 (Fibonacci retracement, horizontal resistance, channel resistance) for a push down to at least 0.7263 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 94% where we expect a corresponding drop from.