In Background at supply area there is some buy climax and no demand, then some supply is going in, is there some opportunity to go short again? But if price could move sudden and close above supply area, there is a high change that the downtrend is end, and start the uptrend prices.
There is major supply that going in, wait for price go rebound at fibo area 50 - 61.8, wait for confirmation signal (ex : canddlestick pattern, price action, or wave), then you could go short. Always use good MM
Its look like the price might be still going down.. best area to go short is at supply area. Always watch the price movement and wait for signal. (price action, break minor uptrendline at lower timeframe, or canddlestick pattern). Look for early entry point at lower timeframe. Always use good MM. ex: minimum risk reward ratio = 1:1.5
On Demand Area, there is no selling pressure, and the buyer start to add their trade. If price could break the down-trendline on H4, then the target 1 and 2 should be reached. The ideal area to go long is at the demand area. Trade with good money management, use good risk and reward ratio, ex : 1:1.5.
The price trend show that it will be going up, but the best option to buy still at the 50 to 61.8 fibo retractment point.
On the price volume show that the buy is at climax point, and some supply show some selling pressure at supply area. The best option now is to go short and take profit at range 50 to 61.8 fibo. Use good MM at least Risk ratio is 1:1.5.