US30 Scalp Trade Idea 02/07/22
US30 is still in this range. Looks like price has tried to break below but failed to do so. A level of support has been formed. I think price will retest that 4H level of resistance to create a wick on the higher TF, and then it will continue the bearish movement later today. I am looking for a buy opportunity leading up to market open. Will wait for a confirmation of entry on the 15M and 5M TF.
1.Price is currently ranging
2. Price created a high within this range
3.Price created a strong level of support and failed to break below
4.If a 15M candle starts to break and close above resistance, there is a probability that price can retest the 4H level of resistance and then begin to reject
5. If price fails to break through resistance (&200EMA), there is a possibility that it can break the minor level of support to retest the bottom of the range and potentially break through and retest the 4H level of support
1.Price is currently ranging
2. Price created a high within this range
3.Price created a strong level of support and failed to break below
4.If a 15M candle starts to break and close above resistance, there is a probability that price can retest the 4H level of resistance and then begin to reject
5. If price fails to break through resistance (&200EMA), there is a possibility that it can break the minor level of support to retest the bottom of the range and potentially break through and retest the 4H level of support
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