GBPUSD 18-22 Week Analysis [October] Uptrend continues

21 Okt 2021

The uptrend on the M30 chart continues as we anticipate further upside today. As long as price action is above pivot of 1.379 we can expect further rise if indicators and positive market sentiments continues. I have also observed a triangle on the M30 which usually indicates a continuation of the trend which is up in this case although may not always be the case.

21 Okt 2021

Dagangan aktif

I still need to understand how the triangle setup works within a timeframe and understand when it is ready for execution. Here the triangle could have been extended to another hour and whilst the breakout did happen on the top, if faked out and did not give the ancipated 30 pip nor the 88 pip odd if the same triangle was applied to the H1 chart. Currently price action dipped and is ranging. So its a waiting game now and no clear indication of price movement off this idea. The downward movement did make 30 pips before tunring back and could go further down.