AUD Weekly
At this stage:- October lows remain resistance, and if there is going to be any continuation downward in the forward month, then November could see the AUD much lower.
The trend guide for the AUD is simply going to be the next monthly range in November.
AUD Daily and 3-day patternWhilst the AUD remains below October lows, then the 3-day filter is going to be the most robust 'short' trading set-up, as was the case this week.
There will be up days, but for the next couple of weeks it's much the same as October looks like consolidating into November.
This Week the Asian spreads have aligned with my timezone, whilst the Euro spreads have not.
16 trades with Friday being the most active.
14 Winners 737 pips
2 losses -29
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YEN:- 3 trades
3 winners + 142
In conclusion:- These consolidating Weekly patterns are ideal for spiral trading because of the rotating price patterns within the 5-day range.
Whereas, 'Spiral Trading' as price 'thrusts' from Monthly 50% levels towards outer channels is less so because the frequency drops.:- trending
I believe the spiral patterns will continue to be robust for the next couple of weeks, but if there is going to be a new down move in November, it might be better to hold 'short' trades longer when robust set-ups occur:- shorting 3-day filter and 5-day 50% level
