The GBPUSD Triangle

48
Lately i didn't know what's happening on GBPUSD, so I closed it in a triangle.
Triangle is a bilateral pattern so it may end up breaking the top side for a long or a bottom side for a short.
I personally think it's going to be a short but lets give price action a chance to show us.

How to enter the trade after a trendline break?
(I will be showing you an example of an entry if it broke the bottom trendline)

1. Wait for a break. Since it's a 4h triangle I will be looking for a 4h candle to end underneath the trendline.
snapshot

2. Wait for a 1h flag(pullback) and then enter the trade after a strong bearish 1h candle.
snapshot

If it breaks the bottom side im expecting the price to end up around 1.36, if it breaks the top side i think it should reach somewhere around 1.431.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.