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Medium-term Trading Idea FX AUD/USD – Sideways With Upwards Shoot: Likely Triangle Formation

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Trading opportunities for currency pair: going against a bear trend. Wave “B” on the weekly is forming as a triangle. It could trade between 0.7100 and 0.7370 until the end of the year. As soon as wave B forms wave “e”, look to open long positions with small protective stops under 0.7016 and with a 0.7620 target. A closing of the daily candle below 0.7016 will cancel the triangle and any growth scenario. Background The last idea I made on the Aussie came out on 23rd November. When it was

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