NZDUSD: Sell Signal from a Breakout

I wrote about a possible sell opportunity based on the daily timeframe. You can read about it in the post from the related ideas.

If we look at the 1H timeframe, we can better understand when to sell.
The price moves in a local uptrend below the upper line of the price channel from the daily chart.

If the price breaks the local uptrend line and drops below SMA100 and SMA200, it will give us a trend reversal signal. We will be able to use this signal and open sell trades with stop orders above the local swing high. The market has room for the downward movement, and this sell trade can provide a good risk-reward ratio.