AUD 15:10
AUD swing into the 3-day filter and resistance by 3pm...
Ideally there is a push down for the next 4 hours into the brown filter or 41 pips...
As pointed out in morning report:- with this double Weekly low pattern playing out, eventually price will break higher... more likely during US trading hours....
Until then......
Here is an example of this week's price action using the overall trend and the filters.
We can see the top and reverse pattern downwards from the 5-day 50% level on Monday...
The continuation down on Tuesday from 3pm
And now the 3-day filter on Wednesday... (3 pm)
The important part of each reversal pattern is the filters, the matching higher 240 minute bars...
And....
The R41 pip spiral tops....
In this instance on Wednesday (today):- matching spiral top...
The ideal pattern would be to continue down for this 4 hour period...
But if it's going to head higher, it could align perfectly with the intra-day cycle breakout which might happen later on today, if not earlier because of the change of cycle.
Note:- the important part of any pattern is the time of occurrence. Monday didn't align for me because that occurred at 11pm Monday night, but for someone in Europe or the US it sits perfectly.
And the same of any breakout on the upside today, it won't align with my timeframe, and I won't be sitting around waiting for it to happen either.
Let's see how today goes.
Entry .8600 (stops 8625)
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Same pattern on Euro:-
Short 1.4728
partial exit 1.4703 +25 pips (R41 completion)
Breakeven stops from entry or cover @ 1.4663
