Expect the price to drop from this area as we have a bearish market structure on a HTF and price rejected a bearish orderblock on h1 confirmed it with a high momentum bearish candle close, i want to see another leg to the downside on this currency pair. CHF is very strong during those times.
What do you think ? Comment below...
Main items we can see on the 4hs chart:
a) The price bounced with an upper movement from the lower trendline of the weekly descending channel
b) Also, the price is above a Support zone that was broken with a bearish movement
c) For the last few days the price was on a descending channel (yellow lines) making a throwback ( Test of a zone on a bullish trend)...
