This is the first chart I've made worth posting so bear (no pun intended) with me.
As you can see, since early June on the 4 hour chart, EURUSD has been on a slow descent. I've always been told to find the channels and trends and trade them. In this channel, the top line has been touched 7 times and the bottom support- which is weird because it is almost a straight line- has been touched 6 times with it bouncing off the area 5 of the 6. If the trend continues we should go down from here but I can't help but wonder what happens when the ascending minor blue like touches the yellow descending top line.
As you can see, since early June on the 4 hour chart, EURUSD has been on a slow descent. I've always been told to find the channels and trends and trade them. In this channel, the top line has been touched 7 times and the bottom support- which is weird because it is almost a straight line- has been touched 6 times with it bouncing off the area 5 of the 6. If the trend continues we should go down from here but I can't help but wonder what happens when the ascending minor blue like touches the yellow descending top line.