After technical Analysis or price action has been made and fundamentals or news has been read and the country's economy has been deduced. It is also important to take time and observe candle sticks as well as patience to enter the market rightly. A wrong entry can be financially costly
On a monthly Time Frame this currency pairs is in a consolidation state, which implies that it is time to fold ones hands and look for an actual direction. It is very glaring that we are waiting for a break-out from this symmetric Triangle. An expected break-out Once we get a glaring breakout and a possible retest, the I can enter a trade.
On a weekly Time Frame, the symmetric triangle has become more obvious and glaring.As far as trading is concerned it requires lots of patience and self discipline. Trading is not all about knowing the fundamental and the technical, lots of emotional control is also required.
On a daily Time Frame we can see that this analysis that shows symmetric triangle on a monthly and weekly is giving us a signal that we can buy on a daily. It is showing that we are bullish. However, it is best we wait for an obvious movement before entering a trade.
On a 4 hour Time Frame We can still see a movement that there is an upward movement. But the best thing is to wait for the Weekly and the Monthly Time frame to make a real decision. Smaller time-frames can be blurry.
Note: This is not a financial advice
Note: Trading is risky, it is best to use money you can afford to lose
