AUDCHF - Looking for breakout to the upside

This setup is textbook if the triangle is a normal one. I have not encountered Expanding Triangle as an ending, but the structure looks good for an up move and breakout of the bottom range that has been holding for several months.

This looks like a complex structure, but if you don’t anticipate and just pick it up when it is complete, then it becomes simpler. The correction is a double three comprising of “Zigzag” + “X” + “Triangle”, and triangles are always last before any corrections are done.

Invalidation below 0.5614.

Good luck for the week.