Bulls are really pushing this pair up making an ascending pattern that usually breaks higher but around 1.01000 is an important tl and i think we might see a bigger retrace from there, trade safe and good luck!
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And we have the breakout as expected.
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Price went right to my tl, i am still following my original plan and i think we gonna go down to test the breakout and tl.
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Channel is broken like i expected, we should go down a lot more.
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We are almost here now at the support and i am watching this closely for a potential bounce from this level.
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With those 2 targets on my last update reached, i made another update with a possible idea on AUDCAD.
Play safe with this pair, because this is a break of the cup and handle pattern, If bulls push hard they could break. Momentum and volume is key right now
tonz_of_gunz
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Sure, we have to see how it reacts first then we make a decision:)
NavidDavani
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very interesting.
did you trade any part of this trade since then?
NavidDavani
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I mean except the long trade which I assume you took all profit up to the tl, did you go short anywhere?
I am just trying to understand triangles more and see if they are high probability patterns or we can't say until there is a strong break and pull back.
tonz_of_gunz
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i took a short at the break of that triangle at the top, when i post charts and updates almost everytime i take positions in those trades if nothing changes and everything is ok.