The TIMING to open a short trade was due to the bearish engulfing candle pattern that was formed yesterday. It simply engulfed a false hammer that was created a day before. The relevant price action setup is consider as a continuation candlestick pattern which was supported by ALL TRENDS. First concern level identified. Pending sell stop was in place living the momentum of the market to fill the short position.
The TIMING to open a short trade was due to the bearish engulfing candle pattern that was formed yesterday. It simply engulfed a false hammer that was created a day before. The relevant price action setup is consider as a continuation candlestick pattern which was supported by ALL TRENDS. First concern level identified. Pending sell stop was in place living the momentum of the market to fill the short position.
