EUR/USD - Downtrend Channel Continuation?

Chart Legend:

R= Resistance
S=Support
Blue lines= downtrend channel
M.S (orange line)= Minor Support

Analysis:

Major Trend: Downtrend

As we can see, EURUSD is in a downtrend channel, so let's follow the trend and only make short positions!

According to MACD, It's giving us a down signal (fast line crossed below the slow)

There are two options here for an entry:

(1) - Enter right now close to the M.S and put a stop loss around 1.22 and take profit at the S (1.05) .

(2) - Wait for the touch on the upper line of the downtrend channel, and put a stop loss at 1.25 and take profit at S (1.05).

Mind you, it can also just break the downtrend channel , that's why you should always use stop loss!

Feel free to ask me anything in the comments down below!

Disclaimer: I'm not a financial adviser , i'm not responsible for any losses due to following my chart analysis!