olly_price

GBPUSD watch for a close above or below

FX_IDC:GBPUSD   POUND STERLING / US DOLLAR
9 months ago
Ascending triangle with 5 hit points, so I am waiting for a break out at the 6th, 7th or 8th.

Ascending triangles are bullish , but the very good previous structure on both sides suggests to me that it could break out either way, so I will be open to trading either break (looking for a close outside of the triangle).

Profit targets are obviously at the previous structure as indicated by the horizontal black lines.
9 months ago
Comment: Hit point 6.
9 months ago
Trade active
9 months ago
Trade closed: target reached: Yehhhhh
davidb789
9 months ago
Good trade. I always get burned trading triangles for some reason.
+1 Reply
olly_price davidb789
9 months ago
Thanks a lot man! Check out my previous ones on my account (there's about 6 or 7), I usually get really good results from the way I trade them, are there any significant differences to the way you trade them? Make sure you always look for good previous structure and at least 5 hit points (I have found this works best for me). Also, regarding this trade, there is a good chance it could reach around 1.418 based on that big structure low on the left. (However I won't make this trade because you shouldn't really trade ascending triangles bearishly as it is haha.)
Reply
davidb789 olly_price
9 months ago
No significant difference. Triangles just dont like me. If I would have shorted that trade Im telling you dude. It would have broke to the down side, immediately reversed for a retest, broke through and shot to the moon. Sooo...your welcome. lol
Reply
olly_price davidb789
9 months ago
Haha, maybe I'm having a lucky streak and will soon get 7 bad losers in a row.
Reply
olly_price davidb789
9 months ago
p.s. reckon you could like the post?
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener 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 Billing Sign Out