USDCHF dropping really nicely, remain bearish
Sell below 0.9935. Stop loss at 0.9990. Take profit at 0.9847.
Reason for the trading strategy (technically):
Price has reacted strongly off our resistance area once again and is starting to drop nicely. We remain bearish looking to sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pullback resistance) for a strong push down to at least 0.9847 support (head and shoulders exit potential, swing low support, Fibonacci extension).
Stochastic (21,3,1) is seeing major resistance below 96% where we expect a strong reaction from.
Reason for the trading strategy (technically):
Price has reacted strongly off our resistance area once again and is starting to drop nicely. We remain bearish looking to sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pullback resistance) for a strong push down to at least 0.9847 support (head and shoulders exit potential, swing low support, Fibonacci extension).
Stochastic (21,3,1) is seeing major resistance below 96% where we expect a strong reaction from.