Potential Double Bottom on AUD/USD 240 Minute Chart

12 thg 2, 2018

The AUD/USD 240 minute chart is showing potential for a double bottom. If it completes, this would be a trend continuation trade that would present a 1.3 reward to risk ratio trade. I would look for a bullish entry with stops below the previous outside return and a profit target at the previous structure high. The market is trending bullish which means that if a double bottom is formed price is likely to break higher than the previous high. More aggressive targets can be taken at higher levels.