Currently trading at the support level so we do expect 2 scenarios. Scenario 1 rejecting the support and continue to be bullish. Scenario 2 is a break below the support then enter short after the retest.
We are trading in a range so we will wait for a breakout either above the resistance or below the support. But we could expect as well a rejection from the support level if it can still hold it to go towards the resistance.
The market could do 2 things, it could either reject the resistance level to go bearish or fails to respect it and breaks above it. Either way we are ready for our trade so look for confirmations first.
We are currently trading at a resistance level and we are expecting sellers to kick in. But since we do have a major news coming we should be patient waiting and look for confirmations because the market could break above.
The price has been moving bullish so we are expecting for the market to reach the resistance level. But if the price tends to break below the minor support caused by the news so we are short after a retest.
The market is forming a pattern called a descending flag which is a sign of reversal after a bearish movement. Now we could see a bounce from the support line before it breaks the resistance line. Or because of high volume it could break above easily then enter long after a retest.
The price has been moving sideways and for us to get in we do have 2 possible scenarios to play out. Scenario 1 a break above the resistance and enter long after a retest. Scenario 2 is the break below and enter short after a retest. Be patient waiting for the breakout because we are prepared either way the market could go.
In overall structure we are still bullish and we are currently trading on a key level. Since we do have a bullish bias we are expecting a rejection from this level but if we break below then we are short to target the next previous low.
The market is still bullish but we are currently trading at a support level and we do have 2 possible scenarios that could play out. Scenario 1 is the rejection of the support and continue to be bullish. Scenario 2 is a break below the support and enter short after a retest.