From what I see on the 4 hour chart, I can tell you that this is in fact a long term trade for the fact that it was on an uptrend before October 11th 2016 (first green arrow) and it has still continued to push up.
Furthermore I jotted down a little support line which was retested twice and XABCD + Triangle pattern confirms this uptrend.
Look out for this during...
Upper structure have just hit
Weekly corrective move occured
daily corrective pattern occured
hourly corrective pattern after impulse occured
15 minute harmonic pattern
Divergens applies on higher timeframes
Risk to reward is appealing for short
I personal dislike entering late but this is a pair to grab a quick buk from. so as you can see this is a clear bearish movement and is bound to move lower. The support line may create a reversal or breakout so be cautious. If a breakout occurs the 200 day moving average is the next target.
Importan Note:
1. Trendline is break and Daily trend continuation.
2. OBV trendline breaout with good direction.
3. Volume is overpower with energy.
Trade with care.
