We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc.
On the weekly timeframe we can see that price came back into the support level and rejected it last week with a large wick. Overall we are bearish on this pair the last several weeks but we are in a consolidation of these two key levels. It is very likely that we see a pullback from here
On the H4 timeframe we are very clearly in a bearish trend and once I bring on the fibonacci tool we can see that price has a confluence zone where we could see the next LH form. I will look to swing trade this at the level drawn once we see rejection.
On the weekly timeframe we can see that price came back into the support level and rejected it last week with a large wick. Overall we are bearish on this pair the last several weeks but we are in a consolidation of these two key levels. It is very likely that we see a pullback from here
On the H4 timeframe we are very clearly in a bearish trend and once I bring on the fibonacci tool we can see that price has a confluence zone where we could see the next LH form. I will look to swing trade this at the level drawn once we see rejection.