Price came back into structure level and formed a steep wedge formation. Potential buying opportunity for break-out traders. Greets Felix Website: www.ogtpartners.com Twitter: goo.gl Facebook: goo.gl
A few notes about this chart in point form backing my argument. 1. MACD crossover possible after bouncing below off the MACD trend. 2. Importantly Relative Strength Index which has been climbing even after the AUD has spiked downwards to the upward support has finally broken down AND may fall below the historical declining strength trend. On the other hand it may...
Target is predicted at 0.80500 = 500 pips. Good Luck!
A breakout followed by pullback. Add to that, a symmetrical triangle breakout.
Hello fellow traders. I am sharing a possible breakout signal in the form of a symmetrical triangle pattern. While we did see a close above the upper trend line to confirm this breakout signal, these do have a fairly high throwback rate. Playing devil's advocate, the market can make a double top at the 198 level, or reverse at the 200 resistance. To confirm...