EURUSD in 1 hour is inside a short term channel
The RSI is giving us a bearish signal.
The trend in 4 Hours is broken that can be a long signal.
The price was not able to break the Horizontal resistance line in the 4-hour line.
Now is not the time to take a trade it's better to wait for one of these two scenarios to happen:
1. If the price can break the support counter trend line of the formed channel in the 1-hour time frame it can be sell signal.
2. If the price can break the Horizontal resistance and comes back for a retest and continue upward movement it can be a buy signal.
Stay safe and follow and like! Max
The RSI is giving us a bearish signal.
The trend in 4 Hours is broken that can be a long signal.
The price was not able to break the Horizontal resistance line in the 4-hour line.
Now is not the time to take a trade it's better to wait for one of these two scenarios to happen:
1. If the price can break the support counter trend line of the formed channel in the 1-hour time frame it can be sell signal.
2. If the price can break the Horizontal resistance and comes back for a retest and continue upward movement it can be a buy signal.
Stay safe and follow and like! Max
Trade active:
I opened sell after the trend line broke in 1hr