Price action retested the supply zone grabbing all the liquidity and after that it has formed a big bearish pinbar on the 4h timeframe which is our main bearish signal.
Sudden drop then we got a bearish flag pattern which also represent a breakout of a trendline + retest that we can use as confermation of the downtrend
we got at least 3 confluences. 21 EMA below 55EMA(1hr), breakout + retest trendline, a formation of equal lows at 2002 level which represent our liquidity zone.
Most probable scenario is continuation of the downtrend with first target 2002, 1983 then 1975.
Sudden drop then we got a bearish flag pattern which also represent a breakout of a trendline + retest that we can use as confermation of the downtrend
we got at least 3 confluences. 21 EMA below 55EMA(1hr), breakout + retest trendline, a formation of equal lows at 2002 level which represent our liquidity zone.
Most probable scenario is continuation of the downtrend with first target 2002, 1983 then 1975.