Price is following a downtrend making lower lows & highs. Price is now at previous strong support structure now new potential resistance, which also aligns with the long term descending trendline making a "3rd touch", where I will be watching for a reversal back to the downside to resume the downtrend & make its way back towards the previous lower low next.
Comment:
Pin bar made to the top of the daily channel
Comment:
H4: Shooting star candle / evening star formation at resistance trendline
Comment:
H2: Entry confirmation will be after a breakout of the channel, along with support structure (Orange zone).