1. Timeframe: 75 min
More details
1. I have marked Engulfing candles in yellow color.
2. Have taken the length(body range of the engulfing candle) of the engulfing candle body and drawn it in red color line above it. That can act like support and resistance. One of the ways to trade without any indicators.
3. In general, a stock forms a Engulfing candle to define its price range targets and moves towards it. Always consider the above #2.
Note: Always consider 2X and 3X of the Engulfing candle body range to define support and resistance.
More details
1. I have marked Engulfing candles in yellow color.
2. Have taken the length(body range of the engulfing candle) of the engulfing candle body and drawn it in red color line above it. That can act like support and resistance. One of the ways to trade without any indicators.
3. In general, a stock forms a Engulfing candle to define its price range targets and moves towards it. Always consider the above #2.
Note: Always consider 2X and 3X of the Engulfing candle body range to define support and resistance.