As seen on the chart there are a lot of factors that make this a good zone to look bearish opportunities. There are a lot of eyes in that zone and we do not know who is going to win, what we DO know is that there will be a reaction, and we can make an educated guess, bulls taking profits and bearish entering the market, this environment creates a perfect bounce.
You can also wait for a reverse candle or pattern for confirmation if you are conservative. And of course, if there is a close above structure we should forget all this and look for bullish opportunities.
You can also wait for a reverse candle or pattern for confirmation if you are conservative. And of course, if there is a close above structure we should forget all this and look for bullish opportunities.
