Simple downtrend structure 📊 Analysis Explanation
The market structure shows a series of lower highs (LH) and lower lows (LL) after forming the previous high (H).
This indicates a downtrend pattern.
Currently, price has pulled back up near resistance after forming the LL, creating a possible short entry opportunity.
Entry is taken around 3658 (retest area).
Stop Loss (SL) is placed above the recent LH at 3677, in case price breaks the downtrend.
Take Profit (TP) is targeted at 3629, aligning with the previous swing low / support level.
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📝 Summary
This is a trend continuation setup where you are selling into the downtrend, expecting price to continue making new lower lows.
Position: Short (Sell)
Entry: ~3658
SL: 3677
TP: 3629
