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rs7gram
Sep 15, 2017 3:39 PM

AUDCAD triangle after the sudden drop Long

Australian Dollar/Canadian DollarFXCM

Description

Wedge followed a sudden drop after COT readings were a surprise. One false bull breakout towards the end of the wedge, high chance of a real breakout. Trigger line moved to the breakout level. If PA touches the line, long position will be triggered. SL is placed at the wedge boundary, TP placed at the first rebounce of the drop, matching with the .5 level (see fibb.)

Trade closed: target reached

Could've let it run longer, but that would be an impulse decision. All went as planned as far as I charted.
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