Beautiful downtrend. Possible opportunity to Short!
1. Wait for price to fully retrace to strong resistance level.
2. Price should begin showing weakness ( reversal candle/retest ) to resistance.
3. Could ride down to first TP point, or second.
I prefer to trade the simplistic route. Therefore having a few confirmations stacked such as :
1. Price being in a new downtrend, actively making lower highs, and lower lows.
2. Price doing its last retracement, and making its way right back to a previous support now as resistance.
3. Price respecting that resistance, and forming a wick candle right at that...
Breakout long for NU, as price has begun a small uptrend pattern on the last leg, quickly approaching the neckline of resistance it will need to break to truly breakout.
A buy at the support ( along with confirmation of price printing a reversal candle ) would be a safe entry point!
EUR/USD can be very volatile, so the set ups I look for on this chart tend to be quick scalps that provide safe entries with low drawdown.
I see an opportunity on the Daily chart; candlestick with lots of wick printing at a heavier support level that price may not break.
A retest or two on the hour/4h chart will be confirmation of reversal most likely!