Daily Timeframe We have a new trend forming, a downtrend, as price intersected the previous HL of the uptrend.
4Hour Timeframe We have an uptrend but like the daily timeframe, price breached the uptrends previous HL which signals the beginning of a downtrend. Price is forming a break and re-test setup on the uptrend trendline whereby I'm waiting to enter sells upon confirmation. Confirmation will occur when price retests the trendline and forms a bearish reversal candlestick to confirm entries.
1Hour Timeframe We have a downtrend on this timeframe further giving us reason to go bearish.
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