Monday, September 10, 2012

AUD/CAD 4H Chart: Broadening Wedge Trade Pattern

AUD/CAD 4H Chart: Broadening Wedge Trade Pattern


AUD/CAD has formed a Descending Broadening Wedge pattern on 1H chart. The pattern has 50% quality and 100% magnitude in the 132-bar period.
The pattern started when the pair started depreciating from 1.06009. Currently the pair is trading at 1.0126. The gap between pattern's support and resistance widened by 97 pips in 100-bar period. Read more