structure based trade and top down analysis

hey guys,

one more example on how we can apply a combination of multiple timeframes for market analysis and trading.

on a daily timeframe we see that the market is very close to a decent level of structure,
and continues bearish movement in a small parallel channel.

on a 4h chart what we do is we identify a potential reversal zone:
a range between upper and lower levels of support.
In this zone we will anticipate the change of the sentiment.

For confirmation, we will be looking for a bullish violation of this channel.

Initial target will be based on structure.

Your stop will be below the potential reversal zone.

good luck!

Order cancelled:

breakout earlier that expected