Three tall wicks on the 4h showing bearish momentum as the bulls cannot gain any successful movement.
Recent support now looks like new resistance after a previous break bellow.
Clear and strong rejection off of the upside of the downward channel.
Failed to break back above previous uptrend.
MACD about to crossover to the downside.
Failure to break above the hourly downtrend shows possibly bearish movement.
looking for price to continue down towards recent hourly lows.
1.5 RRR with a 50 pip stop above recent failures to break downward trend.
Looking for a continued break above 1h resistance.
Would look to enter at around 1.18500.
Possibly wait for a pullback to enter to confirm the break above.
