*DISCLAIMER* The weekly candle is not yet closed!
That aside, if the weekly candle closes somewhere in the price range it is at right now, we are looking at a very bullish setup. The setup is an inside bar / pin bar fakeout, on the weekly, on major support, and is with the prevailing trend. You really can't ask for much more. It is important though to wait until the weekly candle closes to make any trading decisions.
That aside, if the weekly candle closes somewhere in the price range it is at right now, we are looking at a very bullish setup. The setup is an inside bar / pin bar fakeout, on the weekly, on major support, and is with the prevailing trend. You really can't ask for much more. It is important though to wait until the weekly candle closes to make any trading decisions.
Comment:
Price has weakened a bit since this post but there is still 20 hours left before the weekly candle closes. I find any close above 4.00 to be bullish. A close above 4.25 to be very bullish.
