Price has made a nice retracement, creating a new lower high of the new downtrend retesting previous support structure as new resistance. Next, will be anticipating a continuation of downtrend for a new potential lower low next down into the 1.15000 region ..
Comment:
4 Hour: Price rejected off trend line & supply zone, giving me confirmation to look for entry point & we can now look for a trend continuation .
Comment:
1 Hour: Looking left, you can see how price reacted at this supply zone before, & is likely to happen again. Stop loss can be placed above the trendline & zone.