EUR GBP Huge Triangle Back Test 15th March 2013

EUR GBP Huge Triangle Back Test 15th March 2013

Ok, I admit, I’m jumping at straws here. Just can’t see anything ripe for a trade right now and whilst flicking through the chart list this one stuck out.

Can a triangle back test on this large scale be valid as a technical trade?

Whatever may happen, it does look interesting:

EUR GBP Quarterly triangle back test 15th March 2013

Tags:
3 Comments
  • bracke
    Posted at 11:44h, 15 March

    RS2000

    Surely it is simply testing the upper trendline. If you extend the upper line and draw in a line to touch tthe lows you have a descending wedge.

  • and then
    Posted at 12:06h, 15 March

    Yes, scarily, it does have a flag like look about it…. is the £ for the scrap heap?

  • RS2OOO
    Posted at 17:05h, 15 March

    Yes, but so is the Euro…. and according to ZH, the rest of the fiat currencies too!!
    🙂