alexp

Expanding triangle bottom for Aussie

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
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Although the triangle has broken downside, most of triangle breakouts do not run long, and it's a good position to enter long as it's likely to bounce of expanding triangle bottom. The expanding triangle top will be a minimum target when triggers. I have set up a conservative target below the major resistance - this trade is still giving us an outstanding risk:reward when properly managed - no matter where we put the minimum target

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stopped out.
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