price 4H timeframe bullish structure move, followed by a lower timeframe bearish corrective move which brought price close to static support area and shows price intention of more upside move.
for taking a buy position we need: 1- price tap into the supporting area 2- see some bullish move in form of engulfing candle which shows that buyers are in the market. 3- see clear shift in lower time frame market structure ( price failing to create lower low )
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price in supportive area, also after hitting the structural point acting as a support formed a bullish engulfing candle in 1H timeframe but still in lower timeframe we have bearish market structure, which in order to be shifted we need to see price failing to create lower lows.