Here is why:
- The 3 month is definitely showing signs of bullish momentum, but it is a large timeframe to base intraday trades off of.
- The daily is showing signs of bullish momentum. First, the previous higher high was broken and the next targets are 1. 9600.
- However, orders were not enough to take price to its next target. Hence, we saw price on Wednesday and Thursday last week going to collect orders at 1.9350 which is a major region.
- There is a three pin pattern as well on the daily, which shows me that price will definitely go higher.
- I am expecting for price to collect orders at 1.9350 again before exploding upwards. Or atleast form a bullish setup.
- For now, I am sitting on my hands as I wait for price to form a bullish pattern on the 4 hour timeframe and then I will look at lower timeframes to buy
- The 3 month is definitely showing signs of bullish momentum, but it is a large timeframe to base intraday trades off of.
- The daily is showing signs of bullish momentum. First, the previous higher high was broken and the next targets are 1. 9600.
- However, orders were not enough to take price to its next target. Hence, we saw price on Wednesday and Thursday last week going to collect orders at 1.9350 which is a major region.
- There is a three pin pattern as well on the daily, which shows me that price will definitely go higher.
- I am expecting for price to collect orders at 1.9350 again before exploding upwards. Or atleast form a bullish setup.
- For now, I am sitting on my hands as I wait for price to form a bullish pattern on the 4 hour timeframe and then I will look at lower timeframes to buy
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