after long downtrend, looks like we have change in direction to upside, price retested previous brekout which became support and price action suggest that price will go up, placed my SL below 50MA (which is also below engulfing candle) .
after failing to go long which I was quite certail it will happen, I closed position and went short after this clear breakout of support. Will move my SL to break even once further away from structure and keep open target.
to me it looks like bulish flag forming + very close to breakout of current resistance, or if you will breakout from previous resistance with retest occured.
head & shoulders formed with retesting the area. I still dont understand how this market was going up last few months with whole virus situation and riots in US - so hopefuly short from here.
