Descending Triangle on GBP/CAD @ W1
The descending triangle pattern on this weekly chart of GBP/CAD confirms pound's weakness and can be used for a breakout trade. The triangle's borders are marked with the yellow lines. My potential entry is located at the cyan line. My potential take-profit level is at the green line. I use the high of the breakout bar as my stop-loss level (not shown on the chart).
Ordre annulé:
Pending orders cancelled due to upper border violation.
You can find useful tools to detect, build, and trade chart patterns - all completely free on www.earnforex.com.
