5:14a GMT - I took a short yesterday just above our signals entry resistance at 1.4860 (after candlestick confirmation on the 4-hour chart). There was confirmation on both the GMT (hanging man) and GMT+1 (double doji) creating a compelling signal to short near the top of channel resistance. All around a good trade. Currently still in it and will be covering shortly, but in the meantime will look to reset shorts on today's analysis:
Daily Outlook: The bearish bias continues as channel resistance proved too much for bulls to beat, creating a new lower high and confirming our short-term bearish bias. I will look for rallies near resistance to re-enter my shorts on candlestick confirmation.
Trading Idea: Nearest resistance I will look for shorting opportunities is the 1.4930-1.4950 zone, unless there is a very compelling candlestick signal. Targets at 1.4910, 1.4880, 1.4850 and 1.4825.