the price appears to be pressured by the trendline and there is no opportunity to create a new HH. with conditions like this, it is likely that the price will continue the bearish trend.
price is currently correcting at fibo extension 0.786. the possibility is forming a downtrend channel and price continues the bearish trend until SnD below which is also close to fibo 1.618.
On h1 tf, we see a fakeout on previous candlestick. We may want to focus on sell position. However, the candle develop a morning star pattern that we can see on h1 tf.
This may confirm a fakeout and the candle continue to bull.
