Price has formed a V-TOP chart pattern formation as you can see in 4H timeframe and also managed to close below 4H low which means that our structure now turned to bearish again. due to V-TOP formation price formed a bearish engulfing candle in Daily timeframe which is a strong signal for bearish move and also as we can see we are in overall in bearish move so we can interpret this daily candle as an continuation signal for higher wave cycle.
Now that we have bearish bias we should be looking for areas which potentially price can tap into in lower timeframe like 1H or lower, take out some liquidity and turn to the downside again.
Now that we have bearish bias we should be looking for areas which potentially price can tap into in lower timeframe like 1H or lower, take out some liquidity and turn to the downside again.