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Observation
1) Market in a downtrend since September 27th, 2021.
2) Previous market low violated.
3) Measurable selling pressure at the break of structure.
4) Current break of structure (previous market low) still being retested.
5) Bearish momentum candles which represent smart money attempts to make the price reach lower, theoretically.
Conclusion
The market is still in a downtrend as we can obviously see the bearish order flow.Now in opinion look for short opportunities. A good rejection at the current zone would represent a sell signal, with two possible next targets as marked on the chart. This is all based on my opinion and my personal analysis.
Observation
1) Market in a downtrend since September 27th, 2021.
2) Previous market low violated.
3) Measurable selling pressure at the break of structure.
4) Current break of structure (previous market low) still being retested.
5) Bearish momentum candles which represent smart money attempts to make the price reach lower, theoretically.
Conclusion
The market is still in a downtrend as we can obviously see the bearish order flow.Now in opinion look for short opportunities. A good rejection at the current zone would represent a sell signal, with two possible next targets as marked on the chart. This is all based on my opinion and my personal analysis.
