Sell below 89.18. Stop loss at 89.43. Take profit at 88.68.
Reason for the trading strategy (technically):
Price has bounced perfectly from our buying level and reached our profit target once again. We prepare to sell from 89.18 major resistance (Fibonacci extension, above major swing high resistance) for a reaction off this level to push price down to at least 88.68 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance at 98% where we expect a strong corresponding reaction from.
Reason for the trading strategy (technically):
Price has bounced perfectly from our buying level and reached our profit target once again. We prepare to sell from 89.18 major resistance (Fibonacci extension, above major swing high resistance) for a reaction off this level to push price down to at least 88.68 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance at 98% where we expect a strong corresponding reaction from.