On the 1D TF we have an uptrend but the MACD is showing a gradual move of the MACD into the Signal line showing the beginning of a downtrend but we aren't basing our trade on that. So we move down to the 4HR TF we can see a rising wedge which is also evident on the 1D TF which gives us more approval on our bias and now we move to the 1HR TF and a descending triangle is evident here which makes me go short on this but i'm waiting for a break of the triangle and a retest. I'll be selling to 0.71600 as my TP and my SL at 0.72000. I'll love to be corrected to be a better trader. Thank you. Remember to DYOR
I think this is a really good setup. Market failed to test the daily channel, showing downward movement. But I have a daily trend I hope price will resist. When it does I am jumping on it.