ujmandhania

Broken zone can be a potential buy

FX:USDJPY   U.S. Dollar / Japanese Yen
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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

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