1 D Timeframe - Bearish price action is indicated by the UPPER wick at 5.23 $PENDLE #SUI🔥

Key to note is Top Head and Shoulder Pattern - which clearly indicates a downtrend/bearish trend

Head at 5.23 and the left and right shoulders.

*I hope you know how to interpret Top and Bottom Head and shoulder patterns*

1. When I see a *strong* uptrend REVERSAL on 4 HTF.

2. Using Fibonacci levels:

5.23 - 4.30 = 0.93(Height)

5.23 - 4.53(Sell side imbalance) = 0.7

0.7/0.93 =75.26%

I expect a 75.26 Retracement which is close to 76% FIbonacci level/ratio

3. Breakout at resistance or above trendline....

4. Break out wedge, channel. bullish flag, descending triangle