AUDUSD update Symmetrical Broadening Bottom
Update : Look bulish at the moment
The classic strategy (1):
Entry: Take a long position at the breakout of the resistance starting from the fifth rotation and if the price is on the higher third of its annual range
Stop: The stop is placed below the resistance
Target: Theoretical target of the pattern
Advantage: Strong probability to win
Disadvantage: Bearish breakouts have more potential than bullish breakouts
The classic strategy (2):
Entry: Take a short position at the breakout of the support starting from the fifth rotation and if the price is on the lowest third of its annual range
Stop: The stop is placed above the support
Target: Theoretical target of the pattern
Advantage: Strong probability to win
Disadvantage: -
The aggressive strategy :
Entry: Take a long position at the contact with the support and a short position at the contact with the resistance
Stop: The stop is placed below/above the last lowest/highest
Target: Opposite band of the triangle
Advantage: It could have many rotations
Disadvantage: At its beginning, the pattern is hard to see
The classic strategy (1):
Entry: Take a long position at the breakout of the resistance starting from the fifth rotation and if the price is on the higher third of its annual range
Stop: The stop is placed below the resistance
Target: Theoretical target of the pattern
Advantage: Strong probability to win
Disadvantage: Bearish breakouts have more potential than bullish breakouts
The classic strategy (2):
Entry: Take a short position at the breakout of the support starting from the fifth rotation and if the price is on the lowest third of its annual range
Stop: The stop is placed above the support
Target: Theoretical target of the pattern
Advantage: Strong probability to win
Disadvantage: -
The aggressive strategy :
Entry: Take a long position at the contact with the support and a short position at the contact with the resistance
Stop: The stop is placed below/above the last lowest/highest
Target: Opposite band of the triangle
Advantage: It could have many rotations
Disadvantage: At its beginning, the pattern is hard to see
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.