USD/CAD reaching profit target, prepare to sell

The price has shot up from our buying level towards our profit target as expected. We prepare to sell once price reaches major resistance at 1.2908 (multiple Fibonacci extension, horizontal swing high resistance) for a drop towards 1.2731 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance at 97% where a corresponding reaction could occur.

Sell below 1.2908. Stop loss at 1.2983. Take profit at 1.2731.

Article Source

Добавить комментарий