In GBPUSD, I m looking at trade opportunity purely based on trendlines. So the breakout direction will decide my entry, while I m posting this it looks like Breaking down but not yet. Decide your risk reward before taking any trade. Happy Trading !
If we get valid break n close above upper trendline - I will enter long, viceversa for short. Moves within trendlines are for very aggressive traders,highly risky !
claudegeneva
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thanks
InsiderB
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Anytime, You're welcome !
fxfxfx
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it broke both lines, upper and lower. where will it stay? let's see..
InsiderB
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Breakout patterns like these has big drawback, that's known as false breakouts. To filter that, you may decide based on higher timeframe direction but that also not 100%,We traders should be ready to accept losses at times.