TradersClassroom

Ascending Triangle Set Up

Short
FX:GBPJPY   British Pound / Japanese Yen
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2
This pair has put in a pretty nice ascending triangle . Technically, this pair should break lower. I'm looking to enter on a break and close of the triangle. The target will be equal to the height of the entire triangle. I will update later once the break has happened. Once it breaks I will tell you my targets and entry. Stops will go above the most recent high. Beware of the recent JPY GDP which could mean this will break to the top side. If it breaks to the top side, no big deal because we will not enter until it breaks lower.

Good Luck

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