A Channel is present at the Austrlian\US Dollar forex pair, providing us with several profitable profit opportunities. Pattern's size is 100 pips. Beware of Support at 0.8100 level which may block bearish moves.
Trading Signals
Long signal when price bounces off the Support level - Target is in the opposite trendline.
Short signal when price breaks Support and performs pullback - Target is 100 pips from breakout place.
Source
http://www.chartsecret.com/content/analysis-channel-pattern-100-pips-audusd
Trading Signals
Long signal when price bounces off the Support level - Target is in the opposite trendline.
Short signal when price breaks Support and performs pullback - Target is 100 pips from breakout place.
Source
http://www.chartsecret.com/content/analysis-channel-pattern-100-pips-audusd
