- There is some sort of triangle, , or following breakout.
- The pattern is holding above a level of support (at this time).
- Based on experience, this creates a probability for further moves north.
- The is showing that the bulls are still in control, creating a probability for greater time-momentum.
The above does not mean it cannot break down catastrophically. Every probability in one direction also leaves a probability for the opposite direction. A stop-loss is what limits loss if price moves against my favoured direction.
I do not know what the future will bring - as I have no crystal ball. All I can do is take a controlled acceptable risk. I'm long on a daily time frame with this (which is not advice to others).
GBPMXN is one of those that is very wild and often disobeys some of the rules of . So extreme caution is required.