Top Down Analysis:
1D = Bearish Downtrend
4H = Price tests the 20EMA 3 times at price points 1.12901, 1.12601, 1.12409
1H = Price tests the 50EMA 3 times at price points 1.12807, 1.12562, 1.12286
2 Resistance levels tested at 1.13519 and 4 support levels at 1.07690
Looking to short EURUSD at 1.11746, SL at 1.13519, TP at 1.07690
I believe that EURUSD will go in the downtrend direction. I'm just not sure where i should put my entry point
(I did my best to describe the chart based on the knowledge taught and absorbed. Do share what can be done to improve my analysis, thank you)
1D = Bearish Downtrend
4H = Price tests the 20EMA 3 times at price points 1.12901, 1.12601, 1.12409
1H = Price tests the 50EMA 3 times at price points 1.12807, 1.12562, 1.12286
2 Resistance levels tested at 1.13519 and 4 support levels at 1.07690
Looking to short EURUSD at 1.11746, SL at 1.13519, TP at 1.07690
I believe that EURUSD will go in the downtrend direction. I'm just not sure where i should put my entry point
(I did my best to describe the chart based on the knowledge taught and absorbed. Do share what can be done to improve my analysis, thank you)