Day Trade - Long following the stop hunt
Within 1 hour of London open, all Asian session gains were erased. Most traders would have entered @ 2618 with SL below the support zone and get stop hunted. Now we see a RSI divergence as well as an engulfing candle which might indicate a reversal to the upside following the stop hunt. Good risk reward of 1:3
Note
Another engulfing candle is printing. This time engulfing 4 consolidation candles.
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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.