AUDUSD profit target reached perfectly, prepare to sell
Sell below 0.7730. Stop loss at 0.7799. Take profit at 0.7629.
Reason for the trading strategy (technically):
Price has bounced up and reached our profit target perfectly. We prepare to sell below major resistance at 0.7730 (Fibonacci retracement, horizontal pullback resistance) for a push down to at least 0.7629 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 95% where we expect a corresponding reaction from.
Reason for the trading strategy (technically):
Price has bounced up and reached our profit target perfectly. We prepare to sell below major resistance at 0.7730 (Fibonacci retracement, horizontal pullback resistance) for a push down to at least 0.7629 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 95% where we expect a corresponding reaction from.