The Setup:
- We identified the trend – Its Bearish.
- We marked out Target areas – here it’s a Trendline.
- We see a strong candle has reached out to touch the trendline and ends as an Engulfing candle. This is a Target Candle.
- We now see a Two Candle setup where the first candle is Bullish, the second Bearish Target candle has a Higher High and ends with strength.
- We measure the PIP length of the setup barfrom its low to high. In this case we calculated 24 PIPS, this then becomes ourTake Profit.
- We enter manually at the close of the setup bar/open of the next candle.
- Enter our TP Level
- SL can be here 24 pips or use the next previous low at about 35 pips.
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