- Price has held between 0.618 to 0.382 levels
- candle has formed below previous candle
- Price has tested resistance twice before.
- Price may retest the resistance line again before breaking
- Confluence around
- Price tested resistance again
On smaller timeframes; price has tested and retested resistance line a countless number of times. This shows a strong and respect of this area. On these timeframes; price is on a downtrend.
Wait for confirmation candle to see what price will do next.