Falling wedge forming in EUR/AUD — False Breakout setup in progress?

A falling wedge pattern is forming in EUR/AUD in the H4 timeframe since 4 Nov 2020. Currently EUR/AUD is approaching the support zone at 1.6130, which could potentially setup a false breakout in conjunction with the falling wedge pattern and the support zone. If you are confused if it will turn out to be a false breakout or to proceed with trading the breakout, watch the video below (timestamp starts 4:15) to find out how to avoid the false breakout and even profit from trapped traders. Pay attention to the logic behind and the way to look…