GBPUSD - SIMPLE Bearish Triangle Pattern

23 avr. 2020

Hi Traders!
The market is in a downtrend.

As you can see, the market broke out of the Level at 1.24200.
Then it made a strong downmovement

After this downmovement, the market started to retrace.
It made higher lows, but also lower highs.
This is known as the Bearish Triangle.

So, the target is the distance from the first movement.
You calculate it at the end of the breakout.

We recommend to trade the breakout with a retest, to avoid false brakeouts.


Thanks and successful Trading :)!

23 avr. 2020

Note

Here is the RED BOX, but in Big:

25 avr. 2020

Ordre annulé

As you can see, the market broke out to the up side.
That's why we didn't take the short trade.



Have a nice day :)