Not the greatest setup but one to start the week with great risk reward :) reasons for 1.Price has come back up to previous support trend line and has shown imediate affect pushing price down 2.price created a bearish engulfing 3.Looks like price just made a correction and now is ready for a big drop also remember the trend is your friend :)
Also another sell setup 1. price has come to previous structure and shown a huge bearish candle 2. price put in a bearish engulfing candle 3 price is downtrending 4.previous candle was a doji on the daily previous candle was a bearish hammer sign of more sellers in the market :)
SIMPLE SETUP WHICH IS RISKY DUE TO COUNTER TREND TRADE 1. PRICE HAS COME TO STRONG LEVEL OF SUPPORT 2. IN THIS ZONE PRICE HAS REACTED BY PUTTING IN A DOJI 3 AND BULLSIH ENGULFING 4. LOTS OF LONG WICKS TOWARDS THE DOWN SIDE SHOW SMALL MOMENTUM IN BUYERS
Price has come to previous strong 4 hour/daily RES now acting as support strong bounce with a 3 bullish solider pattern
1. Bearish engulfing 2 Took out 24 hours worth of candle sticks 3 Price bounced of strong level of RES
1.CLEAR BREAK OF TREND LINE 2 RETEST OF TREND LINE NOW ACTING AS SUPPORT 3. ALSO THERE IS A HUGE KEY LEVEL OF SUPPORT WHERE PRICE WAS RANGING 4.BULLISH ENGULFING CANDLE ON THE 4 HOUR TREND LINE 5. ALSO PRICE SEEMS TO BE CLOSING AS A BULLISH ENGULFING ON THE DAILY
1. Price has been ranging for some time now at this 4hour/Daily level with multiple breaks to the upside each time price has broken to the upside we have put a higher high in 2. On 4hour chart price has engulfed 12 hours of price action (bullish engulfing) 3. Price has also bounced of strong trendline support with the bullish engulfing to add to the upside strength
1.RES broken after swing low now come back to retest and has boucned of it 2.long term trend line long wick bounce 3.daily candle bearish and fridays candle Doji