In this analysis, you will see that price has been in an uptrend. However, reacted significantly at KEY Level Of Resistance. That allows price to reverse and started a new found downtrend.
We can also see that it's respecting market structure by forming a series of Lower Highs and Lower Lows as well as breaking levels of past support and retesting as future resistance. Hence, the strong bias on going short upon the retest of new resistance level.
We can also see that it's respecting market structure by forming a series of Lower Highs and Lower Lows as well as breaking levels of past support and retesting as future resistance. Hence, the strong bias on going short upon the retest of new resistance level.
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