Very simple market structure here. The daily time frame shows the market in a bearish trend. With an impluse, a correction to the upside then continuation to the downside.
There has been 3 days of multiple rejections in the descending channel and has now created a bearish shooting star, suggesting a strong move towards the downside.
Watch the comments as I will break this pair further down on the lower time frame and how I plan on entering this trade.
If this helps you out, let me know and any feedback would be appreciated
Thanks
Nath
There has been 3 days of multiple rejections in the descending channel and has now created a bearish shooting star, suggesting a strong move towards the downside.
Watch the comments as I will break this pair further down on the lower time frame and how I plan on entering this trade.
If this helps you out, let me know and any feedback would be appreciated
Thanks
Nath