AUDUSD congestion resolution
Updated
-6 Week Descending triangle (IMO, the most logical labelling of this pattern. Morphed from H&S continuation and could somewhat be defined as a horizontal range)
-50SMA has tracked above the upper boundary in a definitive manner Daily
-Bol band squeeze into expansion out of pattern boundary
-Measured move down toward 0.71846
Short as of last night, did not have my plan posted as was at the golf course
30 basis points of risk
-50SMA has tracked above the upper boundary in a definitive manner Daily
-Bol band squeeze into expansion out of pattern boundary
-Measured move down toward 0.71846
Short as of last night, did not have my plan posted as was at the golf course
30 basis points of risk
Note
Short @ 0.73185SL @ 0.73357
TP @ 0.7187
Note
Probaby could more aptly be defined as a symmetrical triangleNote
Revised target based on measurement of triangleNote
SL @ 0.7327TP @ 0.71545
Note
Stop moved to fridays high
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