Higher timeframe suggests that price may head back towards purple support trendline.
But 4H & 1H suggest that price has rejected newly formed structure zones and will head back up to the resistance and may push through.
On the 4h timeframe the price has broken resistance and now retesting it as support.
In my opinion I feel that it has rejected the retesting of the new support, therefore I will look to go long.
Trade at your own risk.
This is an idea, I am not a pro.
I feel that the price has rejected off of the resistance level on the 4h timeframe, also validated by the lower timeframes.
Alongside the trendlines I have drawn it has rejected and bounced off of these also, I am shorting because of these reasons.
I am not a professional this is just my opinion!
This is my first post here on tradingview.
My idea is that there is possibly a false breakout of resistance on the 4hr time frame. Alongside following a downtrend channel.
I will wait for a close below the resistance line to then look for shorting opportunities.
This is only a suggestion.