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AUS200 Weekly Chart Techncial Analysis Dec 22,2010

Posted by Scrat on December 22, 2010 at 11:54pm
8118263059?profile=originalLike all triangles of this type the trader will generally wait for atleast one close outside of the pattern before making an entry into thetrade. The stop would either be placed just on the inside of the patternor on the far side of the pattern altogether – the latter gives alesser risk reward but less chance of being whipsawed out of the trade.

The target for this type of setup comes from measuring the height of the pattern and extrapolating that out from the breakout point. Theprofit target can be a fixed target or the trader may decide instead totighten and then trail their stop once this level has been reached.

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