I need a little help in identifying a triangle on the AUD/USD Daily chart, what I drew out as a symmetrical triangle (a few weeks ago actually) now to me looks like a ascending triangle, would anyone be able to help me out on identifying the triangle ?
On the NZD/USD (good correlation with AUD/USD) a symmetrical triangle has appeared, but the symmetrical triangle on the AUD/USD has been broken into a few times (although not too successfully) ...
Any opinions on this ?
I'm only concerned about the type of triangle because ascending triangles usually shoot prices upwards, whereas symmetrical go with the overall trend ( in this case downwards)
On the NZD/USD (good correlation with AUD/USD) a symmetrical triangle has appeared, but the symmetrical triangle on the AUD/USD has been broken into a few times (although not too successfully) ...
Any opinions on this ?
I'm only concerned about the type of triangle because ascending triangles usually shoot prices upwards, whereas symmetrical go with the overall trend ( in this case downwards)