Previously on the same currency pair we went short and have earned good returns, The pair as discussed previously has touched the lower BB.

What is beautiful in this pair is a single candle line. Today the stock open gap down made a low and buyers came in action took the price high to its trading high.  One Candle can tell you alt, in the pair as well we are seen how everything is said by the candle, Previous candle the Sellers were dominating the market and today it showed the same but buyer has pulled the price high which indicates that we might see a reversal.

Scenario 1
If the candle closes above 349 definitely we will go long as we will see a Piercing Pattern formation.
Piercing Pattern is a reversal pattern formed at the trough or at the Support. One of the best candle patterns.

Candles never give us a target but help us to understand whether the trend is continuous or reversing.

If the stock closes below the above level we will wait for another day for confirmation.

If the stock closes below yesterday's low we will Ignore and wait for another opportunity.

Advice : Only if SCENARIO 1&2 is followed will go long nor Ignore

Opportunity

Aug 25 2021

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