On the weekly timeframe we are overall bearish closing last week below the moving averages. We close the week with a bearish engulfing candle through the moving averages. On the H4 timeframe we are maintaining below the moving averages continuing a bearish trend. We are currently testing a H4 level of structure but considering how all of our higher timeframes are bearish we will bump down to the lower timeframes to see what we are looking at. On the H1 timeframe we can very clearly identify a trend. We have two possible scenarios marked but the arrows.
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