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
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
