Hello Traders,
If you look at the Daily TF you will see price has been consolidating , if you move to a lower TF you will see a trend which is currently very clearly bearish.
Breakout from the parrallel channel downwards will take price below previous support and we will see 1865-1860. I have also placed a second scenario on the chart for a bullish breakout. Having a setup planned for two possible outcomes is always advised. I have placed some bank levels on the chart 50 pips apart which you can use to scalp on lower time frames,( recommended 15m) you will notice price always tends to bounce of these levels a good stragety for traders who want to catch a few pips a day
Key Points :
Daily TF-- Consolidating (Not good for entering swing positions)
4hr ,1hr-- Bearish sentiment
Good luck , have a profitable week !!!!
If you look at the Daily TF you will see price has been consolidating , if you move to a lower TF you will see a trend which is currently very clearly bearish.
Breakout from the parrallel channel downwards will take price below previous support and we will see 1865-1860. I have also placed a second scenario on the chart for a bullish breakout. Having a setup planned for two possible outcomes is always advised. I have placed some bank levels on the chart 50 pips apart which you can use to scalp on lower time frames,( recommended 15m) you will notice price always tends to bounce of these levels a good stragety for traders who want to catch a few pips a day
Key Points :
Daily TF-- Consolidating (Not good for entering swing positions)
4hr ,1hr-- Bearish sentiment
Good luck , have a profitable week !!!!