GBPUSD 4H Symetrical triangle + Bullish market structure

72
On the 4H chart for the GBPUSD we are getting a symetrical triangle

Since the end of October we can observe a well defined Bullish market structure ( orange line ) which indicate an up trend

For higher success ratio, you are looking for a breakout to the up side from the chart pattern as it will align with the general trend

Additional factors to take in consideration:

- The low points of the symetrical triangle pattern have bounced up from a support range created from the previous major low in this Bullish market structure and from the 200 SMA

- Few candles back the 20 and 50 SMAs produced a Bullish cross. If the price goes up and breaks above the chart pattern, we will likely get a proper alignment of the price and the 20, 50 and 200 SMAs to give further confirmation of a further movement to the up side

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.