AUD Weekly and 5-day patternAUD heading back into September 50% levels, and the Weekly balance point should be the trend guide upwards next week:- and with the view that price will reverse back down into the October lows.
But there are still 3 weeks to go until the end of the month....
Consolidating 5-day pattern :-As long as I have a concept of price trying to rotate towards the 5-day 50% level, and away from the 5-day 50% level using thrust patterns, then all I have to do is wait for spiral filter patterns during my own time zone.
There will be other robust patterns that do occur during GMT and US hours, but it's obvious i'm not trading them.
Spiral filter rules:-
If trading from a pink spiral back into the brown filter: exit the first R41 range.
If trading away from both the pink spiral and also the brown filter:- then the movement is often a double range 2X44, or pink to pink.
This Week 7 trades
6 winners 228 pips
1 loss :- -15 pips
It's becoming obvious that most of my winners and profits come from spreads that align with my own time zone :- AUD and YEN, and less so Euro and GBP
