alex.ofx
Long

GBPUSD ASCENDING TRIANGLE, Bullish Outlook LONG!

FX:GBPUSD   British Pound / U.S. Dollar
206 5 5
Hi Guys,

GBPUSD             1H TF seems to me like its trying to break out of the ascending triangle .
I would say a close above 1.4365 (1H TF OR 4H TF) will indicate that this is not a false breakout, and more upside can be seen.

Target will be the 1.618 extention, or whole number resistance (1.45)

Please comment or like if it helps, i am open to any critics as well (:

All the best!
Order cancelled: This one seems to be a false breakout.
But we learn from our mistakes (:
This should give a good idea of where price might go from here if we see it close appropriately:
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alex.ofx SubTh3ory
Thanks bud! Really appreciate you sharing the analysis.
+1 Reply
SubTh3ory alex.ofx
Anytime!
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Just be careful on this one as the 4 hour candle has not closed above on this one just yet. This could be a fake break. We'll see. :)
Reply
alex.ofx SubTh3ory
Yes agreed, we have to keep an eye on that
+1 Reply
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