EURGBP: Triangle
Updated
A lovely triangle squeeze here. Patience needed as these types of pattern last till the very end. Manage your risk properly, smaller size and wider stoploss is most ideal here.
Enter on the re-test of breakout. If there isn't any, trade would be invalidated.
Enter on the re-test of breakout. If there isn't any, trade would be invalidated.
Note
UPDATE: There wasn't any break of trendline so no trade was placed. Price is still squeezing higherNote
On H4, you could see bearish divergence. When it falls, usually it's a sharp and fast move to a fib level. So you might want to use that as a tool to help decide your TP & SL levels when this pair reverses
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.