AUD Weekly and Daily chart...
AUD trading around the Monthly and Weekly highs, and has moved into a consolidation pattern.
Next week those Weekly highs shift upwards, which goes close to matching the April-June Quarterly highs...
As a trader I personally don't want to be trying to trade 'long' positions around these highs, instead looking for reveral patterns in the market....
AUD 5-day charts and Range bar 'Spiral Points'
This week price tested the 3-day lows from the spiral tops, and on Friday the AUD has the same pattern....
The sign of a 'short-term' reversal pattern will be a break of the 3-day lows.....and then look for a contination into the Weekly 50% level
With Friday pushing down from a spiral top:- 95 pip reversal will put it below the 5-day 50% level:- but that that 95 pip completion will be verified on Monday....
As long as i'm using the Spiral filter and taking a partial exit @ 41 pips then the rest of the trade is easily manageable....
