USDCHF Approaching Resistance, Prepare For A Reversal!
Sell below 0.9977.
Stop loss at 1.0003.
Take profit at 0.9907.
Reason for the trading strategy (technically):
USDCHF is approaching its resistance at 0.9977 (61.8% & 50% Fibonacci retracement, horizontal swing high resistance, channel resistance) where it is expected to reverse down to its support at 0.9907 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
Stop loss at 1.0003.
Take profit at 0.9907.
Reason for the trading strategy (technically):
USDCHF is approaching its resistance at 0.9977 (61.8% & 50% Fibonacci retracement, horizontal swing high resistance, channel resistance) where it is expected to reverse down to its support at 0.9907 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.