EURGBP 15min Analysis supporting the 4Hour Analysis for a BUY
1) From 16 March 2021 to 19 March 2021, price has been in a Descending Triangle (formed by Support and downtrend line)
2) Price broke the Trendline of the Descending Triangle = This is a Buy for short term traders like scalpers.
3) Because of point 2 above, and the Bullish Bias from the earlier 4Hr analysis, this break of the Descending Triangle to the above has MORE meaning. This is a good and aggressive start for a Buy else,
4) Can wait for the Price to break the 4Hour trendline.
5) Price is currently testing the 4Hour trendline, a rotation/consolidation can be seen clearly.
6) Should the consolidation be broken (aka, should the Resistance of the consolidation be broken), then we off to greater heights.
ALWAYS REMEBER, TREND IS YOUR FRIEND. We check Bias from longer timeframes, then zoom in for best entries.
Goodluck.
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2) Price broke the Trendline of the Descending Triangle = This is a Buy for short term traders like scalpers.
3) Because of point 2 above, and the Bullish Bias from the earlier 4Hr analysis, this break of the Descending Triangle to the above has MORE meaning. This is a good and aggressive start for a Buy else,
4) Can wait for the Price to break the 4Hour trendline.
5) Price is currently testing the 4Hour trendline, a rotation/consolidation can be seen clearly.
6) Should the consolidation be broken (aka, should the Resistance of the consolidation be broken), then we off to greater heights.
ALWAYS REMEBER, TREND IS YOUR FRIEND. We check Bias from longer timeframes, then zoom in for best entries.
Goodluck.
Please Like and Comment.
Trade attivo:
EURGBP now at 0.86046 as of 22 March 2021 13h20 (GMT +02). Both Entries in profits. Still early. Let's see after a week or two.
