Broken zone can be a potential buy

FX:USDJPY   U.S. Dollar / Japanese Yen
31 0
A resistance zone created by bearish engulfing candle, which then got broken by bullish engulfing candle can be a worthy support zone as we can see from previous wick entries into the zone. Can it be a trade setup for a buy? Only time can tell but worth risking a small percent into the trade.

On the contrary, the zone is being visited for the fourth time so whether the next candle in H4 frame respects it or not; only time can tell.

Generally speaking, previous zones broken by engulfing candles are always worth a limit order. Lets see what the market does


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out