Long-Term Triangle Formation on AUDUSD (500+ Pips)

Hey all, what we have here today is a long-term idea that revolves around an apparent triangle formation on the AUDUSD pair. Triangles do not usually tip their hand about which way they plan to move until the price is already in motion, so we can be prepared for both scenarios by setting up two possible plays. Of course this being a long-term idea, the entry points are subject to change. As a result, I will be watching this pair carefully over the next few months and will plan accordingly.

Note

Target 1 reached

Note

Target 2 reached

Trade closed: target reached

Target 3 reached; Idea complete for a total of 350 pips

Cohiba93

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