These are two possible scenarios that could play out on this pair. I'm not expecting price to do anything or move in any particular direction, I will wait for the market to reveal it's next move. Price is currently in an up trend as seen on your higher time frames however it has pulled back quite a bit. Price will need to start setting lower lows and lower highs on the higher timeframes before I can confirm that the uptrend has ended but for now this is just a simple day trading setup to catch an entry which ever way the market decides to move.
I only enter buys at break of resistance and retest and I only enter sells at break of support and retest. Confirmation is key.
I only enter buys at break of resistance and retest and I only enter sells at break of support and retest. Confirmation is key.