Analysis :
Two Scenarios are forseen
Buy :
Sell :
/!\** 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***
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
- Price is on a resisatnce zone,
- Price is inside an ascending channel,
- Bulls are rejected on out restance zone.
Two Scenarios are forseen
Buy :
- 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 ,
- SL bellow our first resistance zone which become a support.
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 ,
- SL above our first resistance zone .
/!\** 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***
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~