I am currently looking at a set up like this for this pair, i am expecting price to rise a little more and for it to reject that previous resistance zone and then continue to the downside with the overall trend (bigger picture, daily)
Price has recently been ascending in a channel and is heading towards the downside resistance trendline, if price gets to that level and shows signs of rejection i will begin looking for short trades but until then ill remain patient with this. If price breaks the channel support and heads to the downside before reaching my desired level which is possible then I will simply just wait for the next opportunity to present itself!
This is just my outlook on the current market, and whatever i analyse is never set stone!
Thanks and trade safe
Price has recently been ascending in a channel and is heading towards the downside resistance trendline, if price gets to that level and shows signs of rejection i will begin looking for short trades but until then ill remain patient with this. If price breaks the channel support and heads to the downside before reaching my desired level which is possible then I will simply just wait for the next opportunity to present itself!
This is just my outlook on the current market, and whatever i analyse is never set stone!
Thanks and trade safe