Pair: GBP/USD
Timeframe: 4H
Strategy: Elliott Wave + Triangle Pattern + Breakout
Formation: Contracting Triangle – Wave 1 to 5
Risk-Reward: High Probability Setup
Status: Pre-breakout phase
🔍 Technical Breakdown:
A clean contracting triangle is forming, completing all 5 internal waves within the structure.
Wave 5 looks exhausted and price is rejecting trendline resistance.
Expecting a bearish breakout from the triangle.
Target zone = 1.34759, aligning with previous liquidity + measured move.
Entry area refined with supply zone + minor structure break (as seen in inset schematic).
🎯 Target: 1.34759
🛑 Stop Loss: Above triangle resistance
🟢 Entry Trigger: After breakout + retest or SMC confirmation
This setup matches Elliott Wave’s triangle structure behavior – typically occurring before the final push in a larger correction or continuation.
Timeframe: 4H
Strategy: Elliott Wave + Triangle Pattern + Breakout
Formation: Contracting Triangle – Wave 1 to 5
Risk-Reward: High Probability Setup
Status: Pre-breakout phase
🔍 Technical Breakdown:
A clean contracting triangle is forming, completing all 5 internal waves within the structure.
Wave 5 looks exhausted and price is rejecting trendline resistance.
Expecting a bearish breakout from the triangle.
Target zone = 1.34759, aligning with previous liquidity + measured move.
Entry area refined with supply zone + minor structure break (as seen in inset schematic).
🎯 Target: 1.34759
🛑 Stop Loss: Above triangle resistance
🟢 Entry Trigger: After breakout + retest or SMC confirmation
This setup matches Elliott Wave’s triangle structure behavior – typically occurring before the final push in a larger correction or continuation.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.