Lower highs are being formed as can be seen on the daily time frame
Flipping to H4 I noticed a bearish engulfing bar that perfectly tested the resistance level. Given the major resistance holding strong this sell signal is somewhat significant.
For this type of setup the stop is best placed above the engulfing bar where the setup is deemed invalid and the target must be at least 2x the risk. When looking on the higher time frame, its noted that the potential for a bearish move much more than the initial target is very likely.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
Flipping to H4 I noticed a bearish engulfing bar that perfectly tested the resistance level. Given the major resistance holding strong this sell signal is somewhat significant.
For this type of setup the stop is best placed above the engulfing bar where the setup is deemed invalid and the target must be at least 2x the risk. When looking on the higher time frame, its noted that the potential for a bearish move much more than the initial target is very likely.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.