TradingwithL

GBPUSD- DECENDING TRIANGLE

OANDA:GBPUSD   British Pound / U.S. Dollar
Hi all,

Noticed a decending triangle/ wedge on the 4HR timeframe - GBPUSD and waiting on 1 of 2 confirmations:

1) if price breaks the trend line in a upward conformation I have plotted what I think could possibility be a breakout and re-test the area of value (grey box) to push price up.

2) if the price breaks and closes below the support (red box) then take profits accordingly

This is just an idea and trade safe,

L

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