We are currently trading in the range of this symmetrical triangle on the audusd daily chart.

Normally when this pattern is 3/4 filled with price action one might expect an outbreak of the range of the triangle.

Because the previous move was downwards it is more likely for the trend to continue with the bearish direction.

Nevertheless we do not take unecessary risks and wait for the outbreak to occur before placing our trade.

Best of PIPS

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