As we are expecting inflation to be under control
This might be good for stocks and other risky asset
So people might start investing back in the stock market
Which can give us possible short opportunity here
Lets see how this will play out
Why i am going long
1. Price rejected major support twice
Looking to make fresh highs
2. We can see divergence on 4 hr and 1hr
3. Price is currently under bull flag waiting for the breakout
4. RR possibility is very high on this setup
Lets see if price holds the support
1. However market have shown sign of weakness trading below the support trend line
2. Support is still intact
Lets see what price has to offer
As we have GDP news today
A positive numbers are expected
Which might push the price to the lil upside
However
Keep a note of the possible double top pattern right at the resistance zone -
which is known as a trend reversal pattern
We are right above the breakout zone, from the triple bottom structure.
A possible retest at the zone and we might get possible long opportunities to the next resistance zone
