Wait for the breakout of our resistance zone & retest,
Wait for a rejection/continuation candle pattern to form e.g. bullish engulfing , pinbar , Insidebar etc,
Initiate BUY order,
Targets next resistance zone [~74.05],
SL bellow our first resistance zone which become a support[~72.44].
Sell :
Wait for a bearish reversal confirmation,
Wait for a rejection/continuation candle pattern to form e.g. bullish engulfing , pinbar , Insidebar etc,
Initiate SELL order,
Targets the ascedning channel lower bound [~70.99],
SL above our first resistance zone [~72.93].
/!\** Disclaimer**/!\ The scenarios described in this analysis are subject to change at any time without prior notification. This analysis is provided as a decision support.
Traders! | if you like my analysis and it supports you in your trading decisions, please say it in a comment so we can manage the trade together. Thanks.
A bearish engulfing pattern has emerged at the bearish bat pattern potential reversal zone. ***This idea is only for educational purpose. Not a financial advice*** ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~