GBPUSD 18-22 Week Analysis [October] Triangle Pattern H1 for FX:GBPUSD by Trader-TO

GBPUSD 18-22 Week Analysis [October] Triangle Pattern H1

I have applied the triangle pattern to the H1 chart whihc works better and I believe give a better setup for a break out. Usually a triangle pattern is categorized as a continuation pattern but the resistence has held strong all day resisting any break out above 1.382. With 20 minutes remaining on the hour setup both up opr down could be there for the taking once the market starts to move.

Trade closed: stop reached

The break out from the triangle worked and yeilded good pips in a downward trend.

Trader-TO

Related publications

GBPUSD 18-22 Week Analysis [October] Uptrend continues

by Trader-TO

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.