Structure: Range Bound (1.5980 - 1.6310)
Moving Average: Cluster, Testing 200 SMA support
Trendline: ST Uptrend Line Broken
Pattern: 2 pinbar, 4 times Top at 4H
Trigger: Breakdown of Neckline Support
Resistance: 1.6260, 1.6310
Support: 1.6150, 1.60
Clear Rectangle Range formed at Daily and 4H
2 large pinbar around 1.6250
Subsequent bearish candles confirmed lack of bullish power to breakout
Wait rebound to short at 1.6220
SL: 1.6330
TP: 1.60
Moving Average: Cluster, Testing 200 SMA support
Trendline: ST Uptrend Line Broken
Pattern: 2 pinbar, 4 times Top at 4H
Trigger: Breakdown of Neckline Support
Resistance: 1.6260, 1.6310
Support: 1.6150, 1.60
Clear Rectangle Range formed at Daily and 4H
2 large pinbar around 1.6250
Subsequent bearish candles confirmed lack of bullish power to breakout
Wait rebound to short at 1.6220
SL: 1.6330
TP: 1.60