Multiple confirmations
The EURUSD pair has been ranging for the past couple of weeks and seemed to have formed an inverted head-shoulder pattern between 2 daily key levels.
Now a pattern on such long time frame can present a challenge on selecting a good entry point.
By switching to the 4h chart, we can see that the price formed a double bottom pattern right under the daily level and a bullish candle followed above it.
This should be enough confirmation to get in on a long entry until, at least, the neckline of the daily pattern.
Now a pattern on such long time frame can present a challenge on selecting a good entry point.
By switching to the 4h chart, we can see that the price formed a double bottom pattern right under the daily level and a bullish candle followed above it.
This should be enough confirmation to get in on a long entry until, at least, the neckline of the daily pattern.
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