Weekly Timeframe:
On weekly timeframe market is in an clear uptrend and it has retraced in last month from the height of 1.10192 to 1.05502 that means in February the pair was in downtrend on lower timeframes
On daily timeframe market is in a downtrend and on last day a red candle is formed and it touched 20 SMA. From this information I can easily anticipate that market will move downward and we can find some really good selling opportunities with good entry trigger on 4H timeframe
On 4H timeframe I will wait for price to break below some resistance with good red bearish candle so that I can go short with 1:1 risk to reward ratio on this particular pair
Waiting in next week for a good bearish candle to go short on this currency Pair
On weekly timeframe market is in an clear uptrend and it has retraced in last month from the height of 1.10192 to 1.05502 that means in February the pair was in downtrend on lower timeframes
On daily timeframe market is in a downtrend and on last day a red candle is formed and it touched 20 SMA. From this information I can easily anticipate that market will move downward and we can find some really good selling opportunities with good entry trigger on 4H timeframe
On 4H timeframe I will wait for price to break below some resistance with good red bearish candle so that I can go short with 1:1 risk to reward ratio on this particular pair
Waiting in next week for a good bearish candle to go short on this currency Pair