Keeping it as simple as possible with a clean chart and good explanation. Hope you will enjoy and profit.
As I described in my previous analysis which is linked down below, on the higher time frame the pair is in a downtrend.
After a pullback on the 4-hour time frame, it can be seen that price has swiped the previous lower-high area and headed down and broke the ascending trendline. This indicates price can move down.
A good selling entry in my opinion is now because price gave a bearish engulfing candle on the 1-hour time frame just after testing both the new descending and old ascending trendlines.
As I described in my previous analysis which is linked down below, on the higher time frame the pair is in a downtrend.
After a pullback on the 4-hour time frame, it can be seen that price has swiped the previous lower-high area and headed down and broke the ascending trendline. This indicates price can move down.
A good selling entry in my opinion is now because price gave a bearish engulfing candle on the 1-hour time frame just after testing both the new descending and old ascending trendlines.
