AUDNZD symmetrical triangle with 5 hits
Symmetrical triangle has been forming on the AUDNZD pair for 3 months now.
5 strong hit points.
Look for a break to the upside at hit point 6 or a break to the downside at hit point 7 after hit 6.
Profit targets are clearly indicated by green lines and are based on previous structure. The top profit target is unlikely but very hopeful if we get a break to the upside.
5 strong hit points.
Look for a break to the upside at hit point 6 or a break to the downside at hit point 7 after hit 6.
Profit targets are clearly indicated by green lines and are based on previous structure. The top profit target is unlikely but very hopeful if we get a break to the upside.
Comment:
Point 6 hit and closed above the resistance line. Will be watching this closely to determine whether or not to open a long position.
Trade active
Trade closed: stop reached:
Tiny loss. Still going to watch this triangle.
Trade active:
Long again.
Trade closed: target reached
