USDCHF profit target reached, prepare to sell

2 February, 2017

Sell below 0.9958. Stop loss at 1.0027. Take profit at 0.9857.

Reason for the trading strategy (technically):

Price bounced up perfectly and reached our profit target. We prepare to turn bearish below 0.9958 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci projection) for a push down to 0.9857 support (Fibonacci projection, recent swing low support).

Stochastic (21,5,3) is approaching strong resistance at 95%.


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