Buy above 1.0711. Stop loss at 1.0622. Take profit at 1.0811.
Reason for the trading strategy (technically):
Price has reached our profit target for the 4th time in a row. We now turn bullish above 1.0711 support (Fibonacci retracement, horizontal overlap support, bullish price action, long term ascending support, USDCHF negative correlation) for a push up to at least 1.0811 resistance.
Stochastic (21,5,3) is seeing ascending support and bullish divergence signalling a bounce is expected.
Reason for the trading strategy (technically):
Price has reached our profit target for the 4th time in a row. We now turn bullish above 1.0711 support (Fibonacci retracement, horizontal overlap support, bullish price action, long term ascending support, USDCHF negative correlation) for a push up to at least 1.0811 resistance.
Stochastic (21,5,3) is seeing ascending support and bullish divergence signalling a bounce is expected.
