As we see we have broken the Higher Highs to the downside with a SHS formation at the top and we have a break + follow through through the trendline . Now we have a big pinbar right on the well respected s/r level which could lead to a nice pullback in direction of last lower high (right shoulder) But as we have also break the upward trend from technical view we can also expect further downward movement.
i will look for a long in h4 after break above the small resistance and i look for a short on daily chart after break below the Pin.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.