{"id":19241,"date":"2011-02-09T19:45:33","date_gmt":"2011-02-10T00:45:33","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19241"},"modified":"2011-02-09T19:45:33","modified_gmt":"2011-02-10T00:45:33","slug":"the-aussie-audusd-setup-in-the-1-hour-chart","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/09\/the-aussie-audusd-setup-in-the-1-hour-chart\/","title":{"rendered":"The Aussie (AUD\/USD) Setup In The 1-Hour Chart"},"content":{"rendered":"<p style=\"text-align: center;\"><a href=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/02\/AUDUSD-February-9-2011.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-7884 size-medium aligncenter\" title=\"AUDUSD - February 9, 2011\" src=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/02\/AUDUSD-February-9-2011-300x155.jpg\" alt=\"\" width=\"300\" height=\"155\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Hello traders! My <a href=\"http:\/\/www.laidtrades.com\/category\/forex\/\" target=\"_blank\">forex<\/a> pick for the day is the Australian dollar versus the US dollar currency pair (<a href=\"http:\/\/www.laidtrades.com\/category\/forex\/audusd\/\" target=\"_blank\">AUD\/USD<\/a>). What I wanted to show is the possible 5-day <a href=\"http:\/\/www.laidtrades.com\/chart-patterns\/symmetrical-triangle\/\" target=\"_blank\">symmetrical triangle pattern<\/a> forming in its 1-hour chart. In case you do now know, symmetrical   triangles have 50% chances of breaking out\/breaking down and what   usually determines the breaking point is where the trend is coming from.   If the triangle&rsquo;s coming from an <a href=\"http:\/\/www.laidtrades.com\/chart-patterns\/uptrend\" target=\"_blank\">uptrend<\/a>, then there would be a higher chance of the price breaking out from the pattern&rsquo;s resistance. If the triangle&rsquo;s coming from a <a href=\"http:\/\/www.laidtrades.com\/chart-patterns\/downtrend\" target=\"_blank\">downtrend<\/a>,   then there&rsquo;s a higher chance of a breakdown from the pattern&rsquo;s   support.&nbsp;In the current case of this Aussie pair, the triangle we are   seeing is coming from an uptrend. The price is also moving above the 50   and 100-period moving averages which gives an overall bullish bias for   the pair. Once the triangle&rsquo;s resistance gets breached, the upside   target price could be the 1.0254 all-time high. I got this by gauging   the size of the triangle&rsquo;s base then added it to the possible breakout   point. In case a breakdown occurs, the target price could be 1.0055.   However, before it reaches that level, it needs to first clear out the   1.0083 support.<\/p>\n<p style=\"text-align: justify;\">More on <a href=\"http:\/\/www.laidtrades.com\/\">LaidTrades.com<\/a> &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hello traders! My forex pick for the day is the Australian dollar versus the US dollar currency pair (AUD\/USD). What I wanted to show is the possible 5-day symmetrical triangle pattern forming in its 1-hour chart. In case you do now know, symmetrical triangles have 50% chances of breaking out\/breaking down and what usually determines &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/02\/09\/the-aussie-audusd-setup-in-the-1-hour-chart\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Aussie (AUD\/USD) Setup In The 1-Hour Chart&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19241","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=19241"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19241\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}