On the H4, with price approaching the resistance of the stochastics level,we are biased that price will drop from 1st resistance at 1.13852 which is in line with horizontal swing high resistance, 50.0% Fibonacci retracement level to 1st support at 1.233, which is in line with horizontal swing low support. Alternatively, price may rise up to our 1st resistance at 1.14633, which coincides with 161.8% Fibonacci extension level and horizontal swing high resistance .
Trading Recommendation
Entry: 1.13852
Reason for Entry:
Horizontal swing high resistance and 50.0% Fibonacci retracement
Take Profit: 1.233
Reason for Take Profit:
Horizontal swing low support
Stop Loss:1.14633
Reason for Stop Loss:
Horizontal swing high resistance and the 161.8% Fibonacci extension
