Price recently broke a multi-week resistance. We could see there’s a big red candle but very low volume on the first rebound. On the second rebound, there’s a doji candle with very high volume indicating that bulls are trying to push the price higher. The next candle is a big bullish engulfing candle with low volume indicating that sellers are out of the market and unwilling to push the price lower. Stops is 1 atr below and tp is before the highs.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.