1. Monthly double top in monthly downtrend. 2. Previous Monthly break of structure to the downside. 3. Previous retest of BOS to the downside.
Weekly Confluences 1. Respect of trendline with bearish engulfing candle (bearish. 2. Multiple previous respects of trendline.
Daily Confluences (bearish) 1. Demand Zone where price could be trading towards.
4hr Confluences (bearish) 1. retracement starting to form. 2. Possible retest of Recent BOS. 3. Imbalance price could be trading towards. 4. imbalance lines up with the fib 78% level. 3. minor BOS also lines up in the are of the fib 78% level and imbalance. 4. Minor Supply zone also lines up in the are of 78% level, BOS and Imbalance. 5. Price may also be trading towards the liquidity below the demand zones.
Entry point I will be looking to go short around the 78% fib level ideally , but i will be paying attention to the 50-61% levels to go short too.