TradingView
AndriyMoraru
Jan 24, 2016 1:48 PM

Double Bottom on AUD/USD @ H4 Long

FX:AUDUSD240
Australian Dollar/U.S. DollarFXCM

Description

⋅
The double bottom pattern on H4 chart of AUDUSD offers an opportunity for a bullish breakout. The pattern's borders are marked with the yellow lines. My potential entry level - the cyan line. My potential exit level - the green line. Stop-loss is to be set to the low of the breakout bar (not shown).

More information, chart template, and free expert advisor to automatically trade this pattern - on earnforex.com/blog/audusd-finalizes-double-bottom-on-h4/

Trade active

⋅
Entered at 16:34 UTC. Entry = 0.70707, SL = 0.70166, TP = 0.72674.

Trade closed: stop reached

⋅
Stop-loss reached yesterday at 20:01 UTC.
AUDUSD4hourDouble Bottompatterntradingbreakout
Comments
Daniel_Israel
⋅
It hit major resistance and rejected at the upper yellow line, so it can go either way.
AndriyMoraru
⋅
True. The long will trigger only if the price goes to the cyan line.
More