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British Pound / Euro

Clear Triangle Pattern, with great Risk/Reward ratio

By bogd
On the graph, there is the triangle pattern, one of the most wide known phenomenon in forex trading, which makes it one of the most reliable strategy as well: waiting for the break through and opening position in the appropriate direction of the breakthrough.

Good risk reward ratio:
  • If Long then we can put stop loss at around 1.1659 and take profit at 1.2338 --> R/R ratio of roughly 2.5
  • if Short then we can put stop loss at around 1.2055 and TP at 1.1198
currencyDaily ChartsdaytradeFibonacciForexGBPEURneutralpatternSAFETriangle
bogd

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