UPDATE #2: TRADE: AUDUSD: SELL@.73260 2 Possible Triangles +119

Updating this SHORT trade with the TP1 and TP2. So far, this trade has moved in the expected direction for +119 pips. I'll be looking for the POTENTIAL butterfly to be completed as the TP1 target. If/when prices get there, I'll reassess the price action to decide how much profit to take off and bank.

For now, prices are descending in a leg D of the POTENTIAL larger expanding triangle. But because this POTENTIAL expanding triangle is only 50% complete, it still can't be determined with much certainty that this leg D will complete. So some level of caution is recommended.

Therefore, my stops have now been moved to just above the most recent spike high to lock in at least some profit. So now this trade is no-loss trade.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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