Another day, another triangle.
Possible short idea on FX:GBPAUD based on closed bearish breakout candle through triangle support.
As always:
TP at triangle height.
SL above recents swing high.
FX:AUDCAD is in the final steps to complete an ascending triangle. The last touch on the ascending trend line still has to be completed, followed by a bullish breakout through resistance.
Without this confirmations, there is no valid setup yet. A break to the downside will not be considered as quality trade entry.
TP at triangle height.
SL below last swing low.
UPDATE
Just a few days ago we had a textbook Descending Triangle Pattern.
If using partial Take Profits (TP1 at triangle height, TP2 is trailing stop loss with MA50), the 2nd position would still be running on this pair and adding another short would be questionable (depending on your trading plan, position size, currency exposure acceptance)
Currently we...
Bullish Symmetrical Triangle active since yesterday. -> Only bullish breakout would have been valid in this situation.
TP at triangle hight.
SL at last swing low.
