Looking at the bearish momentum which topped out at 1.23500, I have decided to short on this trade.
Ideology behind trade (using 4 hour chart):
Clear resistance and 2x candle confirmation of resistance to break 1.235 2x candle confirmation of inability to break 50EMA Downward trend-line respected. Stochastic confirms selling momentum on 4 hour chart.
What are your thoughts on this trade? Where are points I have missed and could sharpen my analysis?