Another good short-term intraday opportunity on AUDUSD. A break of either trendline should be good for around 30-40 pips with a stop loss placed on the opposite side of the triangle.
Its moving, however, I am afraid there will be a fake break because its in Asian session now. What do you think?
ClearEdgeFX
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15M triangles can be risky, particularly before any news as was the case last night. Ironically there's a new one developing outside the one that's on the chart that'll have more potential. The one last night was just a tad too narrow with trendlines that were a little bit on the steep side for our liking.