Double bottom daily Time frame

٤ مايو ٢٠١٩

A weekly bull flag is in formation. A daily double bottom has printed near the weekly 50 fib retracement level/. Friday's candle was a bullish engulfing candle. On the 4hr TF price is back within the range it has been trading for the past few weeks.

Possibly a good opportunity to go long if there is good break of the 1288 level . on the flip side a failure to break that level could a push down to the 38 retracement level