Importance of looking at other time frames

My first 2 updates have been similar in the way of looking at the chart pattern of a 123 at a support/resistance.This pattern cannot be predicted, but in some cases we can see it develop over a long period time. They are however very easy to see after they have happened.
Below is a daily chart of the EURGBP. You can see quite easily that we have a 123 at a support and at a breather level. This wouldn’t have been easy to see in real time if you are fairly new to trading.














If you compare this with the 4hr chart you spot the 123 very easily as it has a larger shape compared to the daily chart. This also gives you the chance to prepare you entry and your stops.













Without looking at the 4hr chart you could have missed a fairly easy trade, because the 4hr chart was showing the 123 shape before the daily was. This is why it is important to use multiple time frames.