Price has been ranging for a good time in the wide 4H time frame.
Price got rejected from the supply line.
There is a out of trend pattern waiting for a possible retesting (Red line).
There is a rising wedge in the 1 hour time frame with good rejections. (Blue line).
To top it all, a nice bearish engulfing candle coming from top.
Please proceed with proper risk, no more than 0.5% risk in the trade. It may do a short retest and be up back to your stop loss, careful there.
Price got rejected from the supply line.
There is a out of trend pattern waiting for a possible retesting (Red line).
There is a rising wedge in the 1 hour time frame with good rejections. (Blue line).
To top it all, a nice bearish engulfing candle coming from top.
Please proceed with proper risk, no more than 0.5% risk in the trade. It may do a short retest and be up back to your stop loss, careful there.
Comment:
Try to minimize risk by putting stop loss to entry after a 1.5 RR achieved.