Short till the trendline, then scale in longs at the trendline

8 Jun 2018

We were overbought on the 4hr time frame and have made a gradual pullback from that area. I expect us to either continue a bullish scenario up from the trend line area 7480-7520 where I plan to scale in a long with a tight stop loss. A break from this area however will lead to a more bearish scenario where we can see new lows. But I feel the bullish scenario is more likely. As a trader its best to prepare for both scenarios.