globalfxkingz

AUDUSD TRIANGLE BREAKOUT INSIDE A CHANNEL???

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD Price has been travelling in a triangle as shown above, however we have just seen a breakout to the downside. Price has already made its way back up to retest the triangle and now we are expecting some short opportunites.

HOWEVER

Price has also been travelling in a horizontal channel and price ATM is in the rather large support zone of this channel, giving some bullish bias. We have managed our risk and we are going for short as more confirmations line up , such as the fibonacci retracement zones when you go deeper into price.

OUR TARGET IS MARKED OUT ON THE CHART!
Trade closed: stop reached

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