📈 "Exploring EURGBP: Time Frame Strategies Revisited"🌟💰
📉 Let's analyze the EURGBP currency pair together across lower time frames and explore possible strategies and scenarios.
💹 This currency pair tends to form boxes and mostly trades within ranges across various time frames. Whether in higher or lower time frames, it moves within both large and small boxes.
💼 For range traders, especially in the 4-hour time frame, this behavior presents trading opportunities. By opening short positions at the box's ceiling and long positions at its floor, traders can continue their trading strategy.
🚀 However, what should we do when we experience a breakout, losing support or resistance on a chart? Initially, we await either the breakout of the box's ceiling at 0.85821 or the loss of support at 0.85. After each of these events, we open long-term positions accordingly.
🔴 Moreover, for this chart, we can react to support and resistance levels. Considering the range-bound nature across both lower and higher time frames, for instance, after hitting resistance at 0.85821 and observing red candles, we switch to a smaller time frame. Following the break of the first short-term support, we initiate a short position.
💰 With these actions, we align ourselves with those who opened short positions at the box's ceiling. We can then close our positions with profit at the box's floor or middle line. I recommend backtesting these scenarios to gain experience with range charts.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
💹 This currency pair tends to form boxes and mostly trades within ranges across various time frames. Whether in higher or lower time frames, it moves within both large and small boxes.
💼 For range traders, especially in the 4-hour time frame, this behavior presents trading opportunities. By opening short positions at the box's ceiling and long positions at its floor, traders can continue their trading strategy.
🚀 However, what should we do when we experience a breakout, losing support or resistance on a chart? Initially, we await either the breakout of the box's ceiling at 0.85821 or the loss of support at 0.85. After each of these events, we open long-term positions accordingly.
🔴 Moreover, for this chart, we can react to support and resistance levels. Considering the range-bound nature across both lower and higher time frames, for instance, after hitting resistance at 0.85821 and observing red candles, we switch to a smaller time frame. Following the break of the first short-term support, we initiate a short position.
💰 With these actions, we align ourselves with those who opened short positions at the box's ceiling. We can then close our positions with profit at the box's floor or middle line. I recommend backtesting these scenarios to gain experience with range charts.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
