Apparently,
the AUD/USD has formed what it looks like a descending triangle on the 4 hour
chart, due to all the consolidation that the price has had lately. During these
periods of consolidation is when these chart patterns appear, many with
possible trading opportunities. On the formation shown on the chart, it would
be better to use the 0.8100 level as our confirmation line or breakout line. If
the price breaks below this level and pulls back to it, then we could get a chance
of going short, expecting a continuation to the downside of the main bearish
trend.
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Great analysis! I'll be very careful with this asset looking for trading opportunities
ReplyDeletegreat analysis
ReplyDeleteExcellent analysis.
ReplyDeleteGood analysis.
ReplyDelete