The two areas I have circled in red show two similar scenarios:
1. a previous area of resistance
2. two candles showing long wicks a sign of exhaustion from the bulls and a potential signal of reversal to the downside
The two pink horizontal lines show my target profit zones.
Before entering my trade I will be waiting for extra confirmation from the 6H chart for EMA crossover to clearly signal a push to the downside.
Any comments or improvements are more than welcome.
1. a previous area of resistance
2. two candles showing long wicks a sign of exhaustion from the bulls and a potential signal of reversal to the downside
The two pink horizontal lines show my target profit zones.
Before entering my trade I will be waiting for extra confirmation from the 6H chart for EMA crossover to clearly signal a push to the downside.
Any comments or improvements are more than welcome.
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