REEF'S DAILY CANDLE CLOSE. BULLISH?

We see REEF consolidating for 3 days above our ascending support line, which is approximately 42 days old.

Last daily close is an inverted hammer.
Will this signal a continuation to the upside?

Keep in mind that the more support is hammered (no pun intended), the weaker it becomes.

In order to interest me in a long trade, I would like to see some fairly bullish candle closes in the hourly timeframe, and a break above the 0.0057 level. that way I'll be able to catch the momentum going to the upside.

Safe Trading Friends <33

Commentaire:

I thought I should share a possible trade set-up idea that may occur due to the FOMC meeting.

If REEF does break the ascending support and starts closing with bullish reversal candles, we could deduce a SFP (Swing Failure Pattern) by the market makers.

Please see the chart shown below: