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alexp
Oct 19, 2012 9:35 AM

Expanding triangle bottom for Aussie Long

Australian Dollar/U.S. DollarFXCM

Description

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
Comments
alexp
stopped out.
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