the market came from a big downtrend and now is in consolidation
-next thing , the market reverses and (maybe breaks the resistance at consolidation)
however i´m going for a shorter move
after silver hits the support i looked for an engulfing candle that overshadows the bearish one which is a sign of reversal
- the leg of the bearish pullback is strong, so i´m expecting that the price will also make a strong reversal and hit the targetted TP level
-stochastic is oversold (another confirmation)
I set the stop loss just a little bit above the support level so that the price can not touch it (in case of a pullback)
-next thing , the market reverses and (maybe breaks the resistance at consolidation)
however i´m going for a shorter move
after silver hits the support i looked for an engulfing candle that overshadows the bearish one which is a sign of reversal
- the leg of the bearish pullback is strong, so i´m expecting that the price will also make a strong reversal and hit the targetted TP level
-stochastic is oversold (another confirmation)
I set the stop loss just a little bit above the support level so that the price can not touch it (in case of a pullback)