Gbpusdbullish
The triangle has been broken to the upside on GBPUSDHey guys,
just wanted to share my view on gbpusd; as you can see price has recently broken to the upside this simple pattern called triangle. It's basically made of two converging trendlines that encompass price action. You can take advantage of this pattern by simply buy at the first candle close above/below one of the trendlines, or you can wait for a retracement and then enter the market.
The bigger retracement has already happened, but as of now price level is nice in order to have a positive risk to reward ratio at the retest of the daily resistance near 1,2550, so it's appealing to me.
Entry at market, stops below 1,2400 even handle, target1 near 1,2550, target2 to be determined (approximately near the dark green line).
Let's see.
If you have any question, feel free to type it in below.
Otherwise, see you in the next chart!
are bearish end at GBPUSD?as we can see at October 18 this pair break up channel down pattern, and create a new pattern.
With smaller timeline, we can see a new channel down almost end. If this small channel break, bullish setup at :
opening : 1.2232
Stop loss : 1.2168 (64 pips)
Take profit at : 1.2378 (146 pips)
R/r ratio : 2.33
