Possible continuation of the bearish market.
Daily descending channel, with a strong break of a previous Support & Resistance zone on the daily. Price is currently trading below the zone and forming wicks in the zone from the bottom. Possible re-test for a downside push, waiting on a strong bearish candlestick formation or a market structure pattern on the lower time frames for a sell entry.
For me to change my bias and go long, I would like to see price trade above the zone and form a higher - high. upon trading above the zone I would like to see price re-test the zone a give a bullish confirmation to get into the buy.
Daily descending channel, with a strong break of a previous Support & Resistance zone on the daily. Price is currently trading below the zone and forming wicks in the zone from the bottom. Possible re-test for a downside push, waiting on a strong bearish candlestick formation or a market structure pattern on the lower time frames for a sell entry.
For me to change my bias and go long, I would like to see price trade above the zone and form a higher - high. upon trading above the zone I would like to see price re-test the zone a give a bullish confirmation to get into the buy.