Price Rejection from Daily + Weekly + Monthly TimeFrame

٢٢ يناير ٢٠٢٢

Good day traders.

Below is my own trade idea:

I am BEARISH after based on the following points:

1. A shooting star / Bearish pin bar parallel with descending daily trendline.
2. Multiple Lower highs since August 2020, parallel with the pandemic.
3. Price rejected parallel weekly descending channel.

1828/1830 only works as a strong resistance for this pair but weak support ( refer to red arrows )

I would not hesitate to place my short based on my analysis. My SL is around the 1845 area and TP 1740.

My trade would be long-term until the end of the month.

Wish you all good luck.

Thanks