Both the 4 hr and 8 hr time frame are now in a confirmed downtrend. There was strong rebound from the 12H trend line however the 12th time frame also shows a huge bearish engulfing candle that has not been superseded. I am also seeing a potential head and shoulders and this could be the right shoulder that is forming.
Remember risk management is key and STICK TO YOUR TRADING PLAN
Remember risk management is key and STICK TO YOUR TRADING PLAN