It's tricky. Technically we're still in an uptrend but as the red box shows, we've failed to breach previous highs creating a no trade area just under the daily resistance created from the August highs.
Want to see a daily close above the resistance, with target 1 filling that August wick and target 2 the next .
Note for the scalpers, there is a 50 pip area between these highs and the daily resistance, if the 30 min high is breached would be an easy move in theory.
Not taking a trade off the 3rd bounce but put it in there to show the momentum is still in control and just to show you why the market may dip.
Sells below zone,