Today I have removed all past comment balloons as well as the higher resistance line and lower support line so I could highlight the tighter trading range.
TUTORIAL
Monday's candle formed a Bearish Engulfing pattern. Engulfing candles are reversal candles so today's engulfing candle is indicating a reversal in trend from up to down. This candle is also a very bearish candle. Very bearish candles are formed with the OPEN at or very close to its HIGH and the CLOSE at or very close to its LOW. In addition, a very bearish candle body is TALL with respect to other nearby candles. As a result of this reversal candle, price should now move down to test support.
TRADING
With this tight trading range, I would not try to place any trades until price action moves outside this range.
TUTORIAL
Monday's candle formed a Bearish Engulfing pattern. Engulfing candles are reversal candles so today's engulfing candle is indicating a reversal in trend from up to down. This candle is also a very bearish candle. Very bearish candles are formed with the OPEN at or very close to its HIGH and the CLOSE at or very close to its LOW. In addition, a very bearish candle body is TALL with respect to other nearby candles. As a result of this reversal candle, price should now move down to test support.
TRADING
With this tight trading range, I would not try to place any trades until price action moves outside this range.
Nota
I have decided not to continue this tutorial any further...
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.