price action on the 1 hour time frame
Market is making lower lows and lower highs which means downtrend. Previous support became resistance. It left a bearish engulfing at a supply and demand zone or support and resistance zone. Looks like a good 1:1 risk to reward.
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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.