Look for price to break the the support level and come for a retest to countinue downward for a potential short opportunity
Also price is respecting my trend lines
If price comes to retest the 61.8 percent of the Fibonacci which is also near the trendline I have drawn I will looking for a possible sell opportunity
Price has been ranging on the monthly but a downtrend has been created And we have seen strong resistance off of it
So for now I’m going to be monitoring price to see if a candlestick formation can occur Inside the yellow box I have on the chart. And look for a potential short.
Factors of confluence
Price is around the 61.8 of my Fibonacci retrace meant
A...
It’s a sell in my opinion because the market broke the trend line that was forming higher lows and retested so a big move to the downside could come it also the over direction is down plus if you look on the 4hr timeframe you can see a downtrend where previous support will became resistance
