1. market has finally dropped at a strong resistance zone - horizontal
PLUS
2. two trend line resistance areas
3. fridays bar ended up being a nice bearish "almost" engulfing - the range did not cover the previous
days high, low - however the range was larger then the previous 5 days and lower and that is what
I am taking into a account.
4. my short entry will be 50% of fridays engulfing bar - I like this kind of trade small risk potential for large reward.
1:4
PLUS
2. two trend line resistance areas
3. fridays bar ended up being a nice bearish "almost" engulfing - the range did not cover the previous
days high, low - however the range was larger then the previous 5 days and lower and that is what
I am taking into a account.
4. my short entry will be 50% of fridays engulfing bar - I like this kind of trade small risk potential for large reward.
1:4