AUD Weekly and 5-day pattern 9:30amOn the Weekly timeframe the expectation is that price is continuing
down into October lows.
Now for the rest of this month and next month, it's about trading down
into October lows, using robust patterns within the 5-day range.
Then it's about filtering the entries using spiral techniques, the 5-day 50% level, and/or the 3-day filter.
Tuesday:- expectation price is rotating back into the 5-day 50% level on Tuesday and continuing down into Tuesday's lows.
Breakout of Monday's lows and expectation price is moving lower:- ideally a test of the 5-day 50% level and reject down.
If price continues down into Tuesday's lows without testing the 5-day 50% level, then the view from Wednesday would be to see if price will swings upwards to re-test the Monday low breakout and 3-day filter
Note:- last day of the month and Quarter, but the Weekly timeframe on Friday's close verifies the levels
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
