EURUSD(4 hour)

Hope everyone got on ok with yesterdays signal and made some pips on that drop.

Onto today.On the 4 hr chart Ive put a downward trendline in and as you can see all the tops line up nicely . So in theory we will drop back down again off that trendline .

Before we go diving in with that lets look at whats going on .

The price took a stab at 1.40 breifly and now has risen up 30 odd pips . So we know that 1.40 was not broken.  Trend is down so we have to look at short positions from either A the sloping trendline or B 1.41. If we break those lines to the upside then look at maybe a long position but only if the move is sustained (ie price fails to break back below).

If we drop back through 1.40 then look for a failure to break back above 1.40 to get short .

Look out for candle stick alerts to get you into trade.