Price is about to retest the upper parallel of a median line set, drawn based on weekly structure, at a level where any sell setup completion may be a a long term trade. As we may see price was rejected many times at the upper parallel (red arrows), somthing that happened during the last week (previous bar). At the same level we also have previous structure and the 0.786 fib of previous downmove, all together making a powerful sell zone. I will definately update this idea in case a sell setup completes based on my strategy.
Comment:
A quick update..! Don't rush to jump in with a sell position, except you already have a setup based on your analysis. There is a good possibilty to have a small upmove before price starts dropping.. So be patient and a sell setup will definately will appear..
