GBPUSD- 4HR TRADING STRATEGY

GBPUSD is shaping out triangle -in which d-leg has started but could be confirmed if 1.4365 level is taken out fast & going below 1.42979 shall make the bearish case even more stronger. If that is not the case & one think that GBPUSD is bullish-it has to take out 1.4469 but that is not going to change the overall structure which is bearish triangle & shall be advised to trade shorts only once 1.4365 is taken out. Usually triangles trap participants & take you for ride.Trade with care. Regards

Comment:

We are yet not confirmed of downtrend or d-leg as 1.4365 is still not taken out but yes we have touched a-leg high so benefit of doubt should be given to triangle...unless we close above a-leg...This whole structure will be somethingelse & we shall look for another trading strategy. Regards