CADJPY profit target reached perfectly, prepare for a reversal
Sell below 89.23. Stop loss at 89.75. Take profit at 87.83.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We are now seeing major resistance at 89.23 (Channel exit potential, horizontal swing high resistance, Fibonacci retracement ) and a drop could occur at this level to push price down to 87.83 ( Fibonacci extension , horizontal swing low support). It’s important to keep an eye out on 88.48 as intermediate support.
Stochastic (34,5,3) is seeing major resistance below 95% where a corresponding reaction could occur.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We are now seeing major resistance at 89.23 (Channel exit potential, horizontal swing high resistance, Fibonacci retracement ) and a drop could occur at this level to push price down to 87.83 ( Fibonacci extension , horizontal swing low support). It’s important to keep an eye out on 88.48 as intermediate support.
Stochastic (34,5,3) is seeing major resistance below 95% where a corresponding reaction could occur.
Trade geschlossen: Ziel wurde erreicht:
DAMNNNN hope you guys got in on this trade!
LuckyLaki
MARVELOUS!!!
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