Aloha. This could be a quick play short because the recent trend and run has been quite bulllish, however...
Daily - showing signs of consolidation and rejection of the 50 ema where price is hovering.
1hr- If price breaks strongly bearish and well below the 50ema, this may trigger me in.
4hr - A better consolidation for this pair to go short would be if price was below the 4hr 50 ema, however, we may be in the long ride down if the bears come into play.
We can see a rejcetion and bounce right back into a conslidating pattern. It's been 3 days since any major movement and indicates this may be a good time to enter but it's okay to not rush it. Price can continue its bull rum.
On a LONG note: If price can move off the 1hr and 15minute with a nice break of the ascending channel, then I will be looking for BUY entries on this!
Tread lightly when placing a trade in this market. Allow for more room to be lenient with your SL. It's not always about making money but instead, how to preserve your capital!