Based on the chart, price reached a major support area and a strong rejection have happened recently. This happening can show the strength of buyers at this area and on the other side a weakness on sellers because their attempt to pull down the market was failed by a strong Engulfing Candlestick.
So based on this scenario I opened a buy position with a good risk reward ratio to me (about 1:3)
Note: As always please take risk management rules into consideration before opening any position on the market.
Good Luck!
So based on this scenario I opened a buy position with a good risk reward ratio to me (about 1:3)
Note: As always please take risk management rules into consideration before opening any position on the market.
Good Luck!