jcollet

Wedge in upper trend in USDAUD pair

Long
FX_IDC:USDAUD   U.S. Dollar / Australian Dollar
In this chart we can see a pattern similar to the triangle which can be either a continuous or a reversal trend pattern. We place our resistance and support lines, both touching at least 3 times the price chart. In this case we can appreciate the start point A comes from a upper trend, then goes higher touching our resistance line that we have traced before, change the trend ad goes downwards, touching opur support line. in this moment we are pretty accurate that we are getting a solid pattern. Then we wait to the price touch a little bit more the resistance line and the support line as well. This is the mometn where we can place our order.
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