If you're a follower of charting patterns, then you'll readily see on just about any Aussie pair (on the 4 hour chart) that triangles are setting up all over the place: ascending, descending, etc.
In the upcoming months, I'll be teaching a course on trading and I may include many of these common patterns in that course. Once the triangular patterns break out they produce huge gains. For instance, see the huge NZD/JPY gains that our subscribers had because this pattern was recognized and acted upon.
Click on the NZD/JPY chart below to enlarge it.
Now AUD/USD just experienced one of these as well on its 4 hour chart. Aussie is producing different forms of triangles on AUD/JPY, AUD/NZD, etc. So when you know so many pairs set up with different triangles and they all have the Aussie dollar in common, then you know that it was the Aussie causing the coiling up that these triangles have. Then you know Aussie will make a huge break overall against many other currencies in addition to the U.S. dollar. These are good things to know and to watch out for.
So I figured I'd throw in a piece for you technical guys out there that love the charts. I love them too!
Comments