Hey guys my first time posting, please comment your thoughts and opinions and feedback, I'm always keen to learn your ideas.
Top down approach:
Daily: Hitting major resistance area, price reversal zone and RSI at 70% ready for a move down.
4 hour: previous trend broken, new lower lows formed, retested 1.00300 zone between a 50-61.8% retracement and almost 4th touch of the new trend line with banks rushing in for better entry price. DXY shows probability of a downside movement due to downtrend forming on 4 hourly chart.
1 hour: awaiting catalyst, could be bearish engulfing.
Top down approach:
Daily: Hitting major resistance area, price reversal zone and RSI at 70% ready for a move down.
4 hour: previous trend broken, new lower lows formed, retested 1.00300 zone between a 50-61.8% retracement and almost 4th touch of the new trend line with banks rushing in for better entry price. DXY shows probability of a downside movement due to downtrend forming on 4 hourly chart.
1 hour: awaiting catalyst, could be bearish engulfing.