GBPPUSD - Compressing Triangle - Breakout Trade Setup - Long
GBPUSDPossible Long Trade Trigger.
- Compress Symmetrical Triangle - Restriction of price Movement.
- Up Trend - Trendline Support.
- New Demand Level - Created
At the break of the compressing triangle slated in red, with the aid of the uptrend - trendline, wait for a possible retest of the trend line into demand for a suitable long entry.
Please note my bias is "Long" but is price manages to break down below the "Up-Trend Trendline", then normally we would be looking for a possible short on the retest of the "Backside" of the "Up Trend Trendline", changing its structure from support to resistance, inevitable trying to push price lower into demand.
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