VasilyTrader

AUDUSD: Descending Formation & Trading Plan

Short
FX:AUDUSD   Dollar Australien/Dollar Américain

hey traders,

Saint Valentine's day. The day when we all should stay with our beloved ones.
So this evening I am gonna spend with AUDUSD pair.

on 1H we see a classic descending triangle formation with multiple attempts of the market to break through the 0.6713 support.
I will be waiting for a bearish breakout of support to short the pair.

my stop will lie strictly above the last lower high of the triangle and target levels will be 0.669 and 0.667

good luck and have a great weekend!

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