GBPUSD flat top triangle break
Sorry I haven’t posted in a few days, been busy as well as sick. In fact, I’m still feeling somewhat under the weather. I hope it’s not H1N1!
Basically I’m seeing a flat top triangle, it broke above 1.6630 resistance
General trend is largely up, though it’s been kind of range-ish lately.
I’m waiting for a consolidation or a pullback on the 15min before making my entry.
Note the importance of the 1.6655 level. See the chart for further explaination.
On the 15min charts, there are 2 long tailed dojis, one inside the other, done against a know level of support/resistance. Rather bearish signal ya?
So alternatively, if this breakout fails, there’s a supporting trendline which I’ll be observing.
There’s a doji forming on the 1hr.
You can see it on the chart attached.
EURJPY flat top triangle 7th Aug
EURJPY has been consolidating over this past week. watching it pretty closely, maybe there’ll be a trigger for a short term play later, but mostly i’ll be looking forward to the longer term play this could offer to us.

