Here we have had a strong break down from the EA
daily/h4 ascending channel
. Textbook price action in this case is a retest of trend line
or resistance zone
before entering sells. We can have high confidence in this set up, especially because the daily and h4 both broke a lot of market structure on the initial break down. As the chart pattern is high time frame, I will need h1/ h4 confirmations before taking entries. Risk Reward should be high as there is a lot of room back to the downside, even just to the low formed by the initial break.