Temporary sell which will give a scalping opportunity followed by a long term buy
Comment
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Uptrend structure has been dominant for the past week or two. With low liquidity in the market there was bullish momentum trade was closed for the week in profit. To take this trade this week I'm looking to see a retest on the 4hr support and a signal such as a doji, bullish engulfing candle or pin bar, which would indicate to me that buyers have entered the market and then we would be ready to this trade long, possibly for the entire week
Trade active
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We didn't get the originally expected bullish candle for a push to the upside. Instead we've gotten a broken support. If the July 14 1a.m 4hr candle closes as engulfing then this will be a good trading opportunity to go short