Ascending Triangle on GBP/NZD @ D1
An ascending triangle pattern appeared on the daily chart of the GBP/NZD currency pair. I am going to use this continuation chart pattern for a bullish breakout opportunity. The triangle's borders are marked with the yellow lines. My potential entry is marked with the cyan line. My potential take-profit level is marked with the green line. The stop-loss is to be set to the triangle's bottom point at 2.03382. I will ignore bearish breakouts from this formation.
Trade active
Long trade entered at 2.09731 with SL=2.03442 and TP=2.14900 at 1:20 UTC today.Note
Stop-loss moved up to 2.04493.Trade closed: target reached
Take-profit hit at 00:15 UTC today.
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You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.