High possibility of price fall.
Reasons:
1. Break and retest of bullish channel boundary
2. Formation and break of the bearish flag
3. Formation of 2 bearish pin bar candlesticks before the break of the bullish channel on weekly timeframe.
High possibility of downward move.
Reasons:
1. Break and retest of the bullish channel boundary.
2. Bouncing off the supply zone.
3. Formation of inverted hammer (within the ellipse) after the bounce off the supply zone.
4. Formation of the flag after the break of the channel and bouncing off the flag's upper boundary with inverted hammer.
5. Formation of head and...
There is high possibility of downward move. The reasons are;
1. The price is at supply zone
2. The hanging man candlestick has been formed which signals the possible downward move
The price has bounced off bullish channel boundary. We are expecting it to reach the channel boundary down.
Also it is at critical supply zone as analysed on daily timeframe.
