15 Min Triangle On GBPUSD

Gbp/Usd is currently trading in a triangle on the 15 min chart. This could be a quick trade to take advantage of if we get a break out of this range. Look at the chart below.

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Casey Stubbs is the founder of Winners Edge Trading, which is one of the most widely read forex sites on the web. Winners Edge Trading has trained thousands of people to trade the Forex markets.

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  • Tularompe

    Casey la es, sístampida puede ser arriba o abajo? Los pipos pueden ser la misma distancia de la apertura del triángulo?
    Un saludo

  • Fzavier

    I am bearish on the breakout as the overall trend is bearish. Could be wrong though. Until market moves its anybody’s guessing game. It goes to whoever has a greater crystal ball. Mine is made in China so I will be cautious 😉

  • Jdeep78

    hi casey…
    normally 15 min chart is for a term term trading rite…..??
    and how can i really make use of the trendline that u have shown to trade….i mean how that TL can tel me the way or trend….

    thanks
    Jagdev

  • There is support at 1.5500 20 pips away and also support about 1.5550 20 pips north. So either way of the break out support and resistance 20 pips

  • Investorthomas

    Thanks for the reply. Sorry, but one other question. How do you come up with that profit target? Is that 25% of the back edge of the formation or based on some fibo level…?

    Casey L.

  • I will be looking for 20 pips but since it is so late at night the movement is slow right now.

  • George

    Thanks for the reply, it’s a waiting game as usual…patience!…be well.

  • Investorthomas

    Casey,
    What would your profit target be for a short term trade like this?

    Thanks in advance for your reply,
    Casey L.

  • Right now I favor long because we are sitting on support but we will see which way the pair will break out.

  • George

    Hi Casey, which do you favor? Short or long?
    Regards,
    George