if you want a tight stoploss you can place it below the piercing pattern 30 pips. i have placed the stop below the weekly low. place a small lot and after it enter in to profit can increase it.
strong level......... higher chance of price dropping but waiting for pattern confirmation.
price will move down as it has formed the bearish engulfing at key level.
bullish engulfing confirmation at key level
that is a strong resistance zone so looking for buy opportunity.......... waiting for confirmation for buy .... may be a bullish engulfing
hope the sell will move in the direction i am looking
price rejected from that level previously and the price is in bottom of the channel so it will move up
the inside uptrend is about to over and turn as sell from the key level