EURGBP - Descending Wedge - 1 Hour to 4 Hour Long Opportunity
Greetings,
Fairly simple trade Descending Wedge - These patterns typically break out counter to the trend that preceded them, with their measured objective at the first peak that started the trading pattern.
Entry Point at Market - .7141
Target Profit - .7240
Stop Loss - .7090
Please do your own analysis before entering a trade, and feel free to comment, "like" or follow!
Fairly simple trade Descending Wedge - These patterns typically break out counter to the trend that preceded them, with their measured objective at the first peak that started the trading pattern.
Entry Point at Market - .7141
Target Profit - .7240
Stop Loss - .7090
Please do your own analysis before entering a trade, and feel free to comment, "like" or follow!
Comment:
If you have not entered this trade we are now trading alongside the bottom edge of the wedge for the most optimal entry. @.7099
Trade closed: stop reached:
It's a shame to see a pattern not work out, however breaking out of these types of patterns in the other direction can often lead to drastic moves - which is a dangerous place to be when trading against the trend.