So im waiting the signal for BUY to be printed, but that will take another 4 hours candle to close. But im confident about going long already here so to catch the move from the bottom on the third touch of the trend line ( the best location for an entry). The more touches the trendline has, the weaker it gets.
PS. I will update this later today with a picture of the signal! if happened!
this analysis fails if price breaks trendline impulsively and and that breaks followed by a red candle
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There was NO buy signal printed and thus no trade intiated. Instead price broke the trendline which invalidate this analysis. Even though price looks pretty bearish, I believe it will push higher again! this is what EURUSD usually does, when it looks so bearish then its more often than not the opposite whats gonna happen.