Beautiful example of a descending channel
formation, using the Daily confirmation coming off the re test of the channel low we can see a clear indication of buyers in this market how ever going against the current direction of the bearish
market we will need clear confidence in bullish
momentum to insure this currency reverses its current structure, if we do gain a long entry we will be assessing TP1 for a potential continuation trade as to where we could enter a short entry and trade the bearish
continuation which has more probability. Depending on the market conditions at the time this will determine how we approach this set up.