Price is following a downtrend making a series of lower lows & highs. Price has made a deep pullback to retest the previous lower high of the downtrend, which aligns with structure. This region was rejected, showing the trend is still valid below this region & a lower low into key level support can be anticipated next for a new potential lower low.
At the key level, you can then watch price action for a bullish reversal back to the upside.
At the key level, you can then watch price action for a bullish reversal back to the upside.
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Disclaimer
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.