Descending Triangle on GBP/CAD @ W1
The descending triangle pattern on this weekly chart of GBP/CAD confirms pound's weakness and can be used for a breakout trade. The triangle's borders are marked with the yellow lines. My potential entry is located at the cyan line. My potential take-profit level is at the green line. I use the high of the breakout bar as my stop-loss level (not shown on the chart).
Order cancelled:
Pending orders cancelled due to upper border violation.
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