This is my entry strategy for the previous 4hr analysis that I did on GBPEUR.
On the 15 minute chart, we will wait for the price action to break through (Point A). we will then wait for the retrace where it will retest the support as its new resistance (Point B). Then we will enter upon the price break of the low of point A.
Happy Trading poeple. - The Trading Box.
Here we can see the GBPEUR has broke through the key support level. It tried to do this before with a false breakout (Highlighted in the circle). Due to this, the false break out created a new low. It looks like the price action has retraced to test that new low. I will now switch to the 15 minute chart to wait for confirmation of a trend reversal. This could...