DislikedHi Mark.
Dan favours S&R (Location) above anything else, especially at round numbers, so in hindsight I should have waited until a break through 111.00 (another 20 pips) His favoured Fib retracement is 50% as well.
So for this particular trade, putting together strong S&R, 50% Fib, bearish OB, (Although not the best) and heading towards the 111.00 as I write. I should feel confident. But as a relative newbie I still have my fingers crossed. Interested in Dans thoughts.
Regards
PaulIgnored
I just wanted to clarify though...
A bearish outside bar would have had a higher high than the previous bar and a lower close.
In this case we did not have a higher high but the actual body of the candle did engulf the body of the previous candle (and had a lower close) and therefore qualifies as a bearish engulfing bar/candle.
Regards,
Dan