As Institutions opened 7K short and only 1K long, it is wise of us to be very observant and wait to see what the market is intended on doing. It will be best for us to wait for the price to hit the major trendline before trying to make buys. Any attempt to buy at this point will be very risky, cause we might be longing in the middle of no where and to, we are in the bearish trend as of the moment.
After making that push to the upside, it changed everything. On the Daily we have the formation of an Engulfing bar formed after a breakout and a retest on a resistance turned support. on he H4, we saw a demand area broken. so if and only if the market is going to come for a retest on that demand area, then that will give us a good opportunity to Long the market to the upside with a good risk to reward
UPDATED
After making that push to the upside, it changed everything. On the Daily we have the formation of an Engulfing bar formed after a breakout and a retest on a resistance turned support. on he H4, we saw a demand area broken. so if and only if the market is going to come for a retest on that demand area, then that will give us a good opportunity to Long the market to the upside with a good risk to reward