Considering the price is going down from the breakout of lower highs, we are looking for short positions. Therefore, we can search for price action indicators such as the Fibonnacci retracement. The key level of 50% will be reached at the zone. Multiple price indicators show that the zone traced will induce a retracement especially a lower price from an old candle.
On lower timeframes the price retested the resistance but we expect it to come back during the day.
On lower timeframes the price retested the resistance but we expect it to come back during the day.
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