AUDNZD symmetrical triangle with 5 hits
Updated
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
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