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03 March GBP/USD Probability Study

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03 March GBP/USD Probability Study
Monday, March 3rd, 2008 @ 3:49 am by Johan Kriek

CONSOLIDATION – NO TRADE

Here we can see that price is developing a symmetrical triangle. We will have to wait and see if the breakout occurs in the direction of the preceding trend. Should the latter materialise, we will adjust the 60-minute trend to form a much more active bullish trend and then wait for the indicators to line up before we can start trading

GBP 4 Hour Chart

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