GBPUSD 1H Ascending Triangle Breakout

30 ביולי 2017

This pair is in an ascending triangle pattern which usually means a bullish breakout. There can still be a lot of distance price can travel in this triangle sideways. rice usually needs to be at least half way through the triangle before the break out. Chart shows lots of possibilities. My expectation is a break long so if price comes to the bottom of the trend line I will buy and set my SL right under those candles. That way I am in the long breakout trade early. Then when price does break the upper trend line I look for a Break-Hook-Go for a long entry with SL's under those candles. I usually use for the TP the beginning swing low and swing high distance but you can also use another touch point on the trend lines as TP measurements which I did.
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31 ביולי 2017

הערה

Pair dropped back to bottom of triangle trendline. I had a buy limit @1.3105. Pair broke top trendline @ 1.3145. Currently @ 1.3195 and heading to final TP @1.3320.

31 ביולי 2017

הערה

This pair stalled so I took my profit @1.3195. I have placed a buy stop @ 1.3205 with a TP of 1.3220.

1 באוג׳ 2017

הערה

The buy stop @ 1.3205 was taken and the TP of 1.3220 was hit