tonz_of_gunz
Long

AUDCAD ASCENDING TRIANGLE ON H4

FX:AUDCAD   Australian Dollar/Canadian Dollar
Bulls are really pushing this pair up making an ascending pattern that usually breaks higher but around 1.01000 is an important tl and i think we might see a bigger retrace from there, trade safe and good luck!
Comment: And we have the breakout as expected.
Comment: Price went right to my tl, i am still following my original plan and i think we gonna go down to test the breakout and tl.
snapshot
Comment: Channel is broken like i expected, we should go down a lot more.
snapshot
Comment: We are almost here now at the support and i am watching this closely for a potential bounce from this level.
snapshot
Comment: With those 2 targets on my last update reached, i made another update with a possible idea on AUDCAD.
snapshot
Play safe with this pair, because this is a break of the cup and handle pattern, If bulls push hard they could break. Momentum and volume is key right now
audcad - cup and handle pattern
Reply
tonz_of_gunz mukkarramali
Sure, we have to see how it reacts first then we make a decision:)
Reply
NavidDavani tonz_of_gunz
very interesting.
did you trade any part of this trade since then?
Reply
NavidDavani NavidDavani
I mean except the long trade which I assume you took all profit up to the tl, did you go short anywhere?
I am just trying to understand triangles more and see if they are high probability patterns or we can't say until there is a strong break and pull back.
Reply
tonz_of_gunz NavidDavani
i took a short at the break of that triangle at the top, when i post charts and updates almost everytime i take positions in those trades if nothing changes and everything is ok.
+1 Reply
3 touches already, drop is nearly impossible.
+1 Reply
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