As we can see price has reached major support level.
using the trend line bounce strategy we see price making its 3rd touch/bounce off the streamline ( the more it touches the stronger it becomes )
we also see a catalyst on the daily chart. a bullish kangaroo tail candlestick.
for entry we wait for price to move above the high of the catalyst candlestick.
This pair has dropped down to a major support level.
- On the daily chart it created a bullish pin-bar and price traded higher than the pin-bar before pulling back.
- On the H4 price created a a strong bullish engulfing candle, which is larger than 10+ of the previous candles and price traded higher than the engulfer before pulling back.
-Again on the H4 chart...
Bearish Engulfer at a major resistance zone.
Price has space to the left which shows price hasn't been in that region for a long time.
The engulfing candle is larger than roughly 20 of the previous candles.
- Trendy bearish kangaroo tail formed.
- Price traded lower than the low of the bearish kangaroo tail.
- broke out of a rising Chanel.
-retested the channel as resistance and formed another bearish kangaroo tail, which price then traded below.
- This pair looks to the continuing its downward trend as it has completed many...