GBPUSD ASCENDING TRIANGLE, Bullish Outlook LONG! Long

British Pound/U.S. DollarFXCM

Description

⋅ Jan 28, 2016 5:14 PM

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

⋅ Jan 29, 2016 1:57 PM

This one seems to be a false breakout.
But we learn from our mistakes (:

breakout

Comments

SubTh3ory

⋅ Jan 28, 2016 5:45 PM

This should give a good idea of where price might go from here if we see it close appropriately:

alex.ofx

⋅ Jan 28, 2016 5:52 PM

Thanks bud! Really appreciate you sharing the analysis.

SubTh3ory

⋅ Jan 28, 2016 5:55 PM

Anytime!

SubTh3ory

⋅ Jan 28, 2016 5:32 PM

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. :)

alex.ofx

⋅ Jan 28, 2016 5:34 PM

Yes agreed, we have to keep an eye on that