Here is a possible textbook example of a triangle breakout trade. To be safe, always wait for a retest of the former support and then start adding positions. Remember to always put patience first and profits will surely follow. I have marked in the chart an invalidation area of this setup.
Kudos!
Daily Chart: Price action eagerly respected the Daily trend line support and bounced off immediately. This area too is in confluence with a historical support/resistance level. Price action also arrived at the buy zone I set last week.
Hourly Chart: If the hourly candle would perforate and break the nearest trend line resistance. The possibility for AUD to...
Price just Bounce off from the 61.8% Fib level and it closed around the monthly pivot point. On the weekly chart, This pair is in range, but I'm expecting for it to retest the range border and break it.
As mentioned, price on the 1D stalled on a slope support. The last 2 candles of the trading week formed into a Doji. Look for a nice setup on the lower TF. I...
