Triangle pattern in GBP/USD
Updated
Today we have important news from British. So triangle pattern can be broken.
We have 4 scenario for this pattern.
1. Use Buy stop at 1.32350 if price going up (high risk)
2. Use Sell stop at 1.29400 if price going down (high risk)
3. If price going up, we wait for pullback then take long position (better strategy)
4. If price going down, we wait for pullback then take short position (better strategy)
I prefer to buy or sell at pullback
We have 4 scenario for this pattern.
1. Use Buy stop at 1.32350 if price going up (high risk)
2. Use Sell stop at 1.29400 if price going down (high risk)
3. If price going up, we wait for pullback then take long position (better strategy)
4. If price going down, we wait for pullback then take short position (better strategy)
I prefer to buy or sell at pullback
Note
price is in the triangle yet. Wait for breaking triangle.Note
Price going down and broke the triangle. Now we have a pullback, so we can sell with Stop loss 1.30720
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