PateSkpate

GBPAUD 60min Ascending Triangle

FX:GBPAUD   British Pound/Australian Dollar
I just exited my GBPAUD             Bear TCT. The reason I exited is because my Trading Plan says all Breakout Patterns take priority over all other types of trades. GBPAUD             is forming an Ascending Triangle .

Typically these patterns occur after a long heavy downtrend and mark the temporary bottom. There is so much room to the upside for a market correction. Also it's important to note that after 8 days of selling the Daily candle printed a Doji . So we will see what happens.

In my opinion the upside Breakout makes the most sense and is more likely. However, I have no idea which way it will breakout. I will be waiting for a Break & Close out of the Pattern and will initiate my position at that time. I will be trading this pattern in either direction.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out