AUDUSD: Descending Formation & Trading Plan

FX:AUDUSD   Australian Dollar / U.S. Dollar

hey traders,

Saint Valentine's day. The day when we all should stay with our beloved ones.
So this evening I am gonna spend with AUDUSD pair.

on 1H we see a classic descending triangle formation with multiple attempts of the market to break through the 0.6713 support.
I will be waiting for a bearish breakout of support to short the pair.

my stop will lie strictly above the last lower high of the triangle and target levels will be 0.669 and 0.667

good luck and have a great weekend!
Free Telegram:

💰Stocks Channel: 💰

✅Your personal trading coach and mentor. Contact me for more info



Are you bullish or bearish on AUDUSD?
+1 Reply
Definitely it's bull becz it's not a trend area accumulated zone will go up long
this is a hidden chart. only those who dook deep into multi-transitional charts can see the fall setup. nice on the FIB Retracement
I agree, it's clearly in a downtrend but there does seem to be some demand at the .671 price when you go out on a longer term weekly chart.
Contrary to your point of view, I believe this triangle will break up
Jasong187 shsaeidian
@shsaeidian agreed
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out