XAGUSD has formed a bearish engulfing on the daily timeframe. This is a very interesting, low risk opportunity. Looking left, there is a very similar structure with a long wick, followed by a bearish engulfing candlestick, which resulted in a bearish continuation. Price failed to make new highs. SL set above bearish engulfing highs, TP set at previous lows created by the long wick.
Trade closed: stop reached:
Hit SL, -37 pips. Long position opened on 7/16.
