afhacker
Short

Rejection candle on strong Resistance Zone

FX:AUDNZD   Australian Dollar / New Zealand Dollar
22 1 1
It formed a nice and clear rejection candle on resistance zone and if you go to H4 time frame you will see some good and strong bearish candles, all of this points signaling that a bearish move is on the way and there is two high probability scenario first it will come to the first highlighted(Break even point) zone and then reverse back, it's why you should move the SL to break even when price reached that zone second it will strongly break that zone and come all the way to it's previews down leg support zone and if this scenario happened we will catch some good pips out of this trade but also there is a third scenario too, The price after some sideways will broke this resistance zone so in such a scenario our stop order may didn't trigger and we will be save.
Now we have a bearish significant candle :
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