alexp
Long

Triangle inside expanding triangle in Aussie

FX:AUDUSD   Australian Dollar / U.S. Dollar
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0
That bigger expanding triangle is giving us an idea in which direction the current triangle is likely to expand. I prefer using stop orders for entering into a triangle - so if it triggers above 1.03700 - it likely to go up for the test of 1.0405-1.0410 level again. As bigger breakouts of most of the triangles fail and we're still in trading range, risk:reward for this trade is around 1:1 which turns it into more like a scalp.

Comments

although triangle has broken downside, it's a false breakout and a good trade off expanding triangle bottom... reverse is viable here
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