Price is approaching a strong resistance level formed by a previous swing high. Would like to see the band start coming down to meet the candlesticks or for price to spike up, hit the band and then form a signal to get short. Stay frosty!
Due to the strength of the signal, I decided to trade this one through the closest support and onto the next one down. Pull back happened and order filled. Now, it's either a 1X loss or a 2X win. Simple.
If we see a close at or beyond the current level, then I will engage in a Buy set up. R:R is 2:1. Pull back requires and stop loss is 5 pips below the lowest candle in the 2 x candle signal, which in this case is the low of the black candle.