Price is moving sideways on this EURGBP pair.
The goal is to try to trap price and be ready when a breakout occurs.
For that we place an upper and lower trendline touching the highs and the lows.
The result is a symmetrical triangle. Once this is done we measure the bottom of the triangle with the hight of the triangle.
The aquired range will be a precious information for our target.
We quite simply put place the same distance at the outbreak area and wait patiently for the price to move out of the triangle.
Best of PIPS