SC (SANTANDER CONSUMER USA HOLDINGS INC) - False Break

Market structure: Uptrend, price might retest previous resistance turn support, price respecting 50MA
Setup: False Break/ Retest previous resistance turn support
False Break candlestick pattern: Hammer / Bullish engulfing

To look for trading opportunities when price retest previous resistance turn support at around 39.90 area.
Stop loss: 1 ATR stop loss taking reference from the retest
Take profit: Trailing stop

Disclaimer: Below simple trading idea is just for sharing, please do your own due diligence and apply risk management.

Trade ist aktiv:

hammer candle occur