Analysis Using Top-Down Approach
Daily Timeframe
The overall market stucture on the daily timeframe is in an uptrend with higher high and higher low. The price is retracing before it (might) continues its uptrend.
Look to enter for a sell position.
4 Hours Timeframe
The price is in a retracement phase with lower highs and lower lows. Enter for a sell if it breaks through the last low. Go down to the lower timeframe to observe the price.
1 Hour Timeframe
Wait and observe the price to enter for a sell.
