Analysis: Asymmetric Triangle - 100 pips | AUD\CHF

Submitted by ChartSecret.com on Thu, 07/23/2009 - 13:15
in

AUD\CHF Triangle Chart Pattern

The AUD\CHF pair keeps providing us with profitable and strong chart patterns to trade. Another Asymmetric Triangle appeared at this pair, a very strong variation - both Support and Resistance have been respected several times and confirmed via price bounce. The Asymmetric Triangle is an extremely strong pattern that provides a very profitable entry point when waiting for a pullback.

Trading
Price already broke Resistance, so we would join the uptrend after a pullback to Resistance is confirmed via Japanese Candlesticks.

Target
Target for this chart pattern is at least 100 pips.