Breakout coming soon!

FX:EURGBP   Euro / British Pound
87 0
Hello Traders,

EUR/GBP has seem to of formed a 10-month long ascending triangle pattern. After congesting within this pattern for some time it looks as if we have the potential for a breakout swing trade in either direction.

I like to play it safe and trade in the direction of the breakout when it happens instead of trying to predict exactly where the market is headed.

I have charted both targets for a short / long position. Currently remaining neutral with any biases and letting the market tell me which direction it decides to move in.

Do note, the short position target is a measured move of the low - high of the pattern range. It is a bold target and for each position I will be managing stops on pullbacks. So the rules for exit is a hard stop on entry and trailing stops if the position starts trending towards the overall targets.

Cheers. =)
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out