AUDUSD SHORT (TRIANGLE BREAKOUT)

Learn 2 trade like a pro for FREE! - boafx.com - The triangle formation on the 4 hour chart could cause a breakout in either direction and there are arguments for both, however as you can see from the red arrows on the chart I favour the downside by taking the price at the top trendline or a fake breakout. Fundamentaly the Aussie is weaker than the USD and is lloking like a possible rate cut on the back of the slow down in China. its biggest trading partner.

Comment:

Holding trade for the NFP