Using trend analysis, price is generally in a downtrend.
But has been going through a re-tracement period (Outlined by the counter trend drawn).
Price failed to break through the previous Lower High (LH), this implies that the downtrend will continue.
Plus price broke the counter trend. Signal for a short move.
But has been going through a re-tracement period (Outlined by the counter trend drawn).
Price failed to break through the previous Lower High (LH), this implies that the downtrend will continue.
Plus price broke the counter trend. Signal for a short move.