vj20_fx

Trendline Breakthrough

Long
FX:EURGBP   Euro / British Pound
I have been waiting for either a downside or upside break on this pair and it has arried. Price did stop at trend however has a very small retracement before a very bullish candlestick broke through my trendline. I am now looking to go long only 50 pips to the beginning of my trendline treating price action as a 'falling wedge'. We may see a small retracement back to trend before price heads up so I am waiting for the 1hr candlestick to close before placing my trade.