Hi Traders!
Our GBPUSD triangle break idea on 31/05/2023 broke out but not in the direction we anticipated (PLEASE SEE LINK TO ORIGINAL IDEA BELOW). After a support test to the downside of the triangle, we had a very strong bullish momentum swing to the upside with a break and close to the upside of the triangle resistance.
Our upside Vector resistance level of 1.23467 did come into play and we have had a slow down to the bullish momentum around that level which we have highlighted on the chart.
This idea is why we always consider both sides in our analysis and proof that you should NEVER get attached to a view. If you do have a view on a trade, ALWAYS consider the other side and adapt.
PLEASE NOTE: LATER TODAY, THE NON-FARM PAYROLL (NFP) WILL BE ANNOUNCED THEREFORE THE MARKETS WILL BE VERY THIN, SO PLEASE TRADE CAREFULLY!
Please remember to follow, like and comment.
We appreciate your support.
Trade safely and responsibly.
BluetonaFX
Our GBPUSD triangle break idea on 31/05/2023 broke out but not in the direction we anticipated (PLEASE SEE LINK TO ORIGINAL IDEA BELOW). After a support test to the downside of the triangle, we had a very strong bullish momentum swing to the upside with a break and close to the upside of the triangle resistance.
Our upside Vector resistance level of 1.23467 did come into play and we have had a slow down to the bullish momentum around that level which we have highlighted on the chart.
This idea is why we always consider both sides in our analysis and proof that you should NEVER get attached to a view. If you do have a view on a trade, ALWAYS consider the other side and adapt.
PLEASE NOTE: LATER TODAY, THE NON-FARM PAYROLL (NFP) WILL BE ANNOUNCED THEREFORE THE MARKETS WILL BE VERY THIN, SO PLEASE TRADE CAREFULLY!
Please remember to follow, like and comment.
We appreciate your support.
Trade safely and responsibly.
BluetonaFX
