From the analysis above, it shows a potential downtrend.
In the D1 timeframe, the market is in a descending channel.
The figure above in 1H timeframe, it has shown an impulsive move after it reverses when it touches the D1 Descending channel and it has formed a bear flag (price action within the context of a downtrend).
The TP point can be at the beginning of the descending channel.
Any comments are welcomed. Let me know your opinion.
Thank you.
In the D1 timeframe, the market is in a descending channel.
The figure above in 1H timeframe, it has shown an impulsive move after it reverses when it touches the D1 Descending channel and it has formed a bear flag (price action within the context of a downtrend).
The TP point can be at the beginning of the descending channel.
Any comments are welcomed. Let me know your opinion.
Thank you.