Confluences:
1) Daily Market structure is bearish
2) 4HR Retesting previous Demand as new Supply
3) 1HR Bearish engulfing candle stick pattern at the new resistance
4) 1HR Break and retest of support as new resistance showing evidence of potential continuation lower
1) Daily Market structure is bearish
2) 4HR Retesting previous Demand as new Supply
3) 1HR Bearish engulfing candle stick pattern at the new resistance
4) 1HR Break and retest of support as new resistance showing evidence of potential continuation lower
Comment:
WAIT FOR BREAK AND CLOSE BELOW 30 MIN DEMAND ZONE BEFORE EXECUTING SHORT POSITION