Therefore the pattern I would be looking for is a pullback into the 5-day 50% level (lower Daily close) and then trade up from a lower daily open....
Because price is being pushed down from a Spiral top on Friday, the expectation that any pullback will be 95 pips..... "
Weekly Report...
AUD Daily and 3-day patternAUD has reversed down and moved into the Weekly 50% level and 5-day 50% level.
This is the pattern that I was looking for before any higher move can take place, even though it's only the first day of a 2-day reversal pattern.
Because the AUD hasn't completed the 95 pip reversal, I would like to see Tuesday come down complete the move and bounce off Tuesday's 3-day low pattern before any UP trend continues....
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
