EURUSD-Weekly Market Analysis-Aug22,Wk4

EURUSD is on its bearish run on all 3 major timeframes, the daily, 4-hourly and 1-hourly timeframe. Check out the bearish channel drawn on 10Jul, link at the bottom of the TradingView post; you can observe that when you drew the channel correctly, you can see the market respect the channel by stopping and reversing at the end of the channel. That is when you know you did your analysis right.

If you are trading off the lower timeframe, the 4-hourly chart, you could wait for the market to pause and reverse at 1.0138 for a trend trading shorting opportunity.

Never underestimate the accuracy of structure trading and basic chart pattern; once done right, they are the most powerful trading setup.