Stiffix

Descending channel pattern AUDUSD

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
You see it's on the bottom of this pattern i see as a descending channel . The reason why i see this as a buying opportunity is because it might respect this pattern and it also has two untouched zones above which it might be attracted to. In the end of the day it might touch the upper line and continue down with its pattern or it might break above and continue up and create a new pattern.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.