After a strong long rally from one S&R to another, price action might come to an halt at this resistance area. Once an indecision candle has closed, it's a setup for a nice 1:2.5 or even 1:2.8 S&R reversal trade.
Indecision candle: pin bar, Doji, etc. Bars that indicate price indecision. S/L goes above the S&R zone, T/P is right above the R2 pivot. Trade might be open for extended target at next S&R zone or potential 1:3.5 RR trade.
Indecision candle: pin bar, Doji, etc. Bars that indicate price indecision. S/L goes above the S&R zone, T/P is right above the R2 pivot. Trade might be open for extended target at next S&R zone or potential 1:3.5 RR trade.
Comment:
After the price action broke through the S&R without giving a setup signal, this trade turned invalid.