Gideonscale

Gideonscale

You may want to take a short position at D if other signals confirm your entry and take profit as shown in the analysis.

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The pin bar price action signal formation around the floor is a sign that the price will go and retest the prior resistance.

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The pinbar formation is a confirmation to go short. When the Price action closes as an engulfing Bear gives further green light, you may want to take the short position.

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When the Price action closes as an engulfing bull, you may want to take the long position because it is going back to confirm its breakout of the channel.

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If the price action closes as a en bulish signal, then engulfing bullish signal, then it's confirmation to go long.

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If price confirms the Breakthrough resistance level take profit at next ceiling.

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The Pattern is a bearish reversal and is confirmed by the RSI to lookfor a short opportunity.