Wednesday, October 31, 2012

AUDUSD Triangle Trade AUDUSD Triangle Trade
I am watching this setup from past few sessions. Details [here]. 

So far the price action is not able to break triangle on either side. Price is bouncing from upper trendline. Looks like the upper horizontal resistance area and trendline are providing good resistance on any spikes. 

Since the width of channel is small, I will not trade pullback from triangle's trendline. I will trade breakouts only. 

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