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matt_forex

Continuation Pattern

Dólar Australiano/Dólar Americano (FX:AUDUSD)  
matt_forex  
FX:AUDUSD   Dólar Australiano/Dólar Americano
continuation Symmetrical Triangle symmetry symmetric symmetrical priceaction Harmonic Patterns Triangle LOW breakout Double Bottom reversal
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continuation symmetricaltriangle symmetry symmetric symmetrical priceaction harmonicpatterns triangle low breakout doublebottom reversal
AUDUSD seems to be consolidating within a symmetrical triangle. Price recently bounced off of the .8660 low, forming a double bottom, normally a reversal pattern, but failed to create higher highs. If price were to continue downward the next strong support level is a 2010 low at .8369.

So wait for price to breakout of the triangle before entering and place a stop just above the prior high.
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