Some financial news articles are saying that the Pound is breaking up from a symmetrical triangle.
I say it's reaching the top of an ascending triangle.
I don't know if it's a slow news day or if they're looking for suckers to buy a false rally, but this looks like a much more likely place to short than long to me.
+ Overbought on 1D and 12H
+ About to run into strong horizontal resistance
+ Running into 12H 200 EMA/SMA ribbon
+ About to run into 1D 200 EMA/SMA ribbon
I'm not suggesting you trade this, but I will.
To minimise the risk of an actual bullish breakout for some reason I'll wait for a rejection from this confluence of resistance. So that I can still get a reasonable entry, my trigger will be a break of the 1H ATR with a multiple of 3. Tight stop on a local high or ATR. I'll probably take profit, if I don't get stopped out, at the bottom of the triangle and reload at the top again or on a break downward.
Indicators used: Built-in 200EMA, 200SMA, ATR + Trailing Stops, Price Action Trend Overlay | Simple
Disclaimer: This is not advice. Trade safe!
I say it's reaching the top of an ascending triangle.
I don't know if it's a slow news day or if they're looking for suckers to buy a false rally, but this looks like a much more likely place to short than long to me.
+ Overbought on 1D and 12H
+ About to run into strong horizontal resistance
+ Running into 12H 200 EMA/SMA ribbon
+ About to run into 1D 200 EMA/SMA ribbon
I'm not suggesting you trade this, but I will.
To minimise the risk of an actual bullish breakout for some reason I'll wait for a rejection from this confluence of resistance. So that I can still get a reasonable entry, my trigger will be a break of the 1H ATR with a multiple of 3. Tight stop on a local high or ATR. I'll probably take profit, if I don't get stopped out, at the bottom of the triangle and reload at the top again or on a break downward.
Indicators used: Built-in 200EMA, 200SMA, ATR + Trailing Stops, Price Action Trend Overlay | Simple
Disclaimer: This is not advice. Trade safe!
🆓 All my free scripts: simplecrypto.life/free-scripts/
💰 Trade with me: simplecrypto.life/trade-with-me/
🙋 Free help with Pinescript: simplecrypto.life/get-help-with-pinescript/
💰 Trade with me: simplecrypto.life/trade-with-me/
🙋 Free help with Pinescript: simplecrypto.life/get-help-with-pinescript/
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
🆓 All my free scripts: simplecrypto.life/free-scripts/
💰 Trade with me: simplecrypto.life/trade-with-me/
🙋 Free help with Pinescript: simplecrypto.life/get-help-with-pinescript/
💰 Trade with me: simplecrypto.life/trade-with-me/
🙋 Free help with Pinescript: simplecrypto.life/get-help-with-pinescript/
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。