The indicates a downtrend. Anticipation of a further Indication could also enable a long-term SELL opportunity.
•1W - Current Market has reached the top of the weekly Trendline . The closed candle demonstrated suggests that a rejection has occurred when observing the length of the wick. We can therefore anticipate a movement following on from the candle closure that had occurred as this indicates a rejection of the linear level.
•1D - Current Market has also reached the top of the daily Trendline . The recent candle closure also demonstrates a rejection of the key linear level (Daily top TL). This is also followed up by a large candle which is a clear indication that the buying power is over and that the sellers have emerged into the market which could then result into further movement.
In terms of entry, either instant entry or an anticipation of a Indication on 4HR time frame could also enable a perfect entry point.