As per the 4H graph, you can see that this pair has been trading within an ascending trendline and has reached an area of strong resistance. Also, the RSI is indicating on the 4H, Daily and Weekly charts that this pair is overbought.
I would like to see the following:
- A break of the ascending 4H trendline
- A retest and rejection of the aforementioned trendline
- A push to the downside towards the area of support
Keep it simple and stick to your strategy. Please like and follow if you enjoyed my analysis.
I would like to see the following:
- A break of the ascending 4H trendline
- A retest and rejection of the aforementioned trendline
- A push to the downside towards the area of support
Keep it simple and stick to your strategy. Please like and follow if you enjoyed my analysis.
Trade active:
We have seen a break of the ascending trendline, a retest and rejection followed by a push to the downside.