Last night, I was waiting to see whether or not this Supply Zone would break, if it did, it would have created a HH and created new structure, confirming the break in that downtrend.
But, this is why I always wait for confirmation, because even though we broke and closed above the downtrend, the Supply Zone was the target for new structure. In failing this, the Supply Zone is still in control of this price at the moment.
Currently, we're retesting this resistance that was created on the way up, and more than likely going to continue this trend downwards towards the Daily Demand again at 9300 - 9000.
But, this is why I always wait for confirmation, because even though we broke and closed above the downtrend, the Supply Zone was the target for new structure. In failing this, the Supply Zone is still in control of this price at the moment.
Currently, we're retesting this resistance that was created on the way up, and more than likely going to continue this trend downwards towards the Daily Demand again at 9300 - 9000.