Here is the set up that you want to see when a consolidation is forming:
bearish reversal near a resistance zone
preceded by a series of long shadow candles (that shows the market is not confidence about the rise)
with a clear target zone (the opposed one) for take profit and with a good risk reward ratio
Just need to wait to see how this session ends, if forms a decisive bearish candle closing at or below 106.60 and the rest of the conditions remain unchanged, just pull the trigger.
bearish reversal near a resistance zone
preceded by a series of long shadow candles (that shows the market is not confidence about the rise)
with a clear target zone (the opposed one) for take profit and with a good risk reward ratio
Just need to wait to see how this session ends, if forms a decisive bearish candle closing at or below 106.60 and the rest of the conditions remain unchanged, just pull the trigger.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.