AUDUSD congestion resolution
-6 Week Descending triangle (IMO, the most logical labelling of this pattern. Morphed from H&S continuation and could somewhat be defined as a horizontal range)
-50SMA has tracked above the upper boundary in a definitive manner Daily
-Bol band squeeze into expansion out of pattern boundary
-Measured move down toward 0.71846
Short as of last night, did not have my plan posted as was at the golf course
30 basis points of risk
-50SMA has tracked above the upper boundary in a definitive manner Daily
-Bol band squeeze into expansion out of pattern boundary
-Measured move down toward 0.71846
Short as of last night, did not have my plan posted as was at the golf course
30 basis points of risk
Note
Short @ 0.73185SL @ 0.73357
TP @ 0.7187
Note
Probaby could more aptly be defined as a symmetrical triangleNote
Revised target based on measurement of triangleNote
SL @ 0.7327TP @ 0.71545
Note
Stop moved to fridays high
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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.