Here is the set up that you want to see when a consolidation is forming:
bearish reversal near a resistance zone
preceded by a series of long shadow candles (that shows the market is not confidence about the rise)
with a clear target zone (the opposed one) for take profit and with a good risk reward ratio
Just need to wait to see how this session ends, if forms a decisive bearish candle closing at or below 106.60 and the rest of the conditions remain unchanged, just pull the trigger.
bearish reversal near a resistance zone
preceded by a series of long shadow candles (that shows the market is not confidence about the rise)
with a clear target zone (the opposed one) for take profit and with a good risk reward ratio
Just need to wait to see how this session ends, if forms a decisive bearish candle closing at or below 106.60 and the rest of the conditions remain unchanged, just pull the trigger.
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