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Breakout Forming AUD/USD Setup Strategy

FX:AUDUSD   Australian Dollar / U.S. Dollar
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Setup Strategy: Trade when A breakout from the bottom of the wedge happens or from the top if this pattern turns out to be a Ascending Triangle . See videos on how to calculate profit target and stop out Please note: this pattern could also be a Ascending Triangle instead of a rising wedge ......either way you will be ready to make profit if the price breaks from the bottom or the top of the geometry wedge /triangle figure.
Video tips on rising wedges http://www.informedtrades.com/3355-falli...
Video tips on trading ascending triangles http://www.informedtrades.com/3573-learn...

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Comments

+40 pips :) (1.0367 high of triangle)-(1.0328 low of triangle)=0.0039 + 40 pips @ 1.0410 area
This Geometry turned out to be an Ascending Triangle Strategy: see video http://www.informedtrades.com/3573-learn-trade-triangle-chart-patterns-part-2-a.html
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There is a break out from the top of the triangle but it might be a false break..i would wait to see if price is going back into the triangle figure
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