AUD/USD Long

Trading Discussion
1

AUD/USD 4H

audusd.jpg700×300 26.4 KB

I’ve been waiting for this set-up for the last week. Recent up-trend had tough time testing 1.04 resistance. The price has created a nice ascending triangle. Due to positive Chinese news I will be expecting a up-break-out this week. If it happens, the next stop will be the major resistance: 1.06.

Here are some of the pretty numbers:

Entry: 1.0420
Stop-loss: 1.0370
Profit target: 1.06

As you can see the RRR is almost 4:1.

Any feedback will be appreciated :wink:

2

Looks good, I have the same analysis but am hearing that the price is gonna tank before it will bounce back up

3

What do you guys think of this set up now that Big Pippin’ has shown not just a rising trendline, but a symmetrical triangle forming with a possible breakout?

I’m nervous to go long and get reversed on the breakout.