GBP/USD Bearish ascending triangle
Hello Traders,
today i'm updating GBP/USD on a 4 Hour Chart and i notice a bearish triangle formation has been forming since 3/20/20
ONE VERY IMPORTANT THING I NOTICE AND I MEAN VERY IMPORTANT
Notice wave c of triangle has throw over ( price penetrates temporarily above upper triangle line) which mean wave 5 may be short than wave 3
when throw over occurs it may indicate price will drop fast once it breaks its parallel line (see my target line ).
I still think price is bullish for the next few days but soon i will start looking for a short entry.
Please feel free to post any comments and happy trading
today i'm updating GBP/USD on a 4 Hour Chart and i notice a bearish triangle formation has been forming since 3/20/20
ONE VERY IMPORTANT THING I NOTICE AND I MEAN VERY IMPORTANT
Notice wave c of triangle has throw over ( price penetrates temporarily above upper triangle line) which mean wave 5 may be short than wave 3
when throw over occurs it may indicate price will drop fast once it breaks its parallel line (see my target line ).
I still think price is bullish for the next few days but soon i will start looking for a short entry.
Please feel free to post any comments and happy trading