We can see the following:
- A break of an ascending 4H trendline, a retest and failure to make a higher high.
- A new descending trendline has formed showing lower highs and lower lows.
- The monthly chart RSI is showing that the pair is overbought.
Once the markets open, I would like to see the following before entering a short position:
- An impulse to the downside.
- The pair trading below the 50 and 200 EMA on the 4H chart.
Please like and follow if you enjoyed my analysis.
- A break of an ascending 4H trendline, a retest and failure to make a higher high.
- A new descending trendline has formed showing lower highs and lower lows.
- The monthly chart RSI is showing that the pair is overbought.
Once the markets open, I would like to see the following before entering a short position:
- An impulse to the downside.
- The pair trading below the 50 and 200 EMA on the 4H chart.
Please like and follow if you enjoyed my analysis.