Bearish engulfing is one of the most reliable trading patterns (along with morning star) and in 80 percent cases generates a bearish reversal. Here, bearish candle engulfed 2 previous days what is rather significant. Price usually pulls back to the middle of bearish engulfing pattern before further drop. That is what we observing on Euro index.
We also reached weekly R3 reversal level.
Note also how price reacts at Camarilla S3-R3 reversal levels (those levels contain so called "value zone")
and Camarilla S4-R4 breakout levels (so called "floor and roof")
For educational purposes only.
We also reached weekly R3 reversal level.
Note also how price reacts at Camarilla S3-R3 reversal levels (those levels contain so called "value zone")
and Camarilla S4-R4 breakout levels (so called "floor and roof")
For educational purposes only.