thoughts on this

5 May 2021

starting off from the weekly we can see that price rejected strong from an area of supply around 1.42000 where we can see multiple wick rejections and price starting to fall as sellers are taking control. as for the daily TF I've drawn a trendline with three touches , this trendline was broken and price has started to consolidate outside of it. dropping off to the 4hr TF where can have a much better look at market structure, we can see price dropping and starting to make lower highs, I will wait for price to make a break of structure followed by a retest for more Bearish confirmation. I've also drawn trendlines forming a Bearish pennant, as for this structure we can wait for a break and retest and take it short from there.


this is not financial advice, trade at your own risk.