Long Shot Aussie/USD
Looking at the Weekly chart, we can see the formation of a descending wedge
Looking into the Daily chart, we see yet again another descending wedge. Its a more defined wedge on the 4HR chart.
As we can see from the 4HR chart, not only is there a descending wedge, but we actually see that price has just broken past the resistance line of the pattern.
It is important to note that although all these patterns are present and we can gain evidence for a winning trade, we must remember the market can still push price lower to 0.67280 before the reversal takes place.
Looking into the Daily chart, we see yet again another descending wedge. Its a more defined wedge on the 4HR chart.
As we can see from the 4HR chart, not only is there a descending wedge, but we actually see that price has just broken past the resistance line of the pattern.
It is important to note that although all these patterns are present and we can gain evidence for a winning trade, we must remember the market can still push price lower to 0.67280 before the reversal takes place.
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