We are currently trading above Weekly support ( Wide blue rectangle ). I need more price action to decide which direction market will go next.
Bullish Scenario: Rejection/bounce from Weekly Support , hold above , close above for buying opportunities to 4h resistance or higher , Fibo extension levels.
Bearish Scenario: Early to say , I do not see anything , I'll only look for buy setups. I need bearish momentum for shorts , I want to see that bears are coming into market , we need more confirmation , I will wait first for trendline breakout , after that , maybe rejections of this weekly level , spikes and only then we can watch for selling opportunities.
Bullish Scenario: Rejection/bounce from Weekly Support , hold above , close above for buying opportunities to 4h resistance or higher , Fibo extension levels.
Bearish Scenario: Early to say , I do not see anything , I'll only look for buy setups. I need bearish momentum for shorts , I want to see that bears are coming into market , we need more confirmation , I will wait first for trendline breakout , after that , maybe rejections of this weekly level , spikes and only then we can watch for selling opportunities.