Sell below 134.15. Stop loss at 134.92. Take profit at 132.01.
Reason for the trading strategy (technically):
Price is testing major channel resistance and we look to sell below this level of resistance (Swing high resistance, channel resistance, Fibonacci extension) for a short term correction to at least 132.01 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,3,1) is seeing major resistance below 96% where we expect a further drop from.
Reason for the trading strategy (technically):
Price is testing major channel resistance and we look to sell below this level of resistance (Swing high resistance, channel resistance, Fibonacci extension) for a short term correction to at least 132.01 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,3,1) is seeing major resistance below 96% where we expect a further drop from.