A strong downtrend that was active in AUD/USD from November 8 till November 21 has consolidated into a classic symmetrical triangle pattern. Being a continuation signal, such a triangle suggests a further bearish price action in this currency pair following a breakout.
The chart screenshot below shows the triangle marked with the yellow lines. The cyan line is my breakout entry level located at 10% of the triangle’s height (at the base) below the lower border. The green line is my potential target; it is placed at 100% of the triangle’s height below the border. I will set my
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