27th November 2008 AUD, EURO part 3
AUD 11:50
AUD trading in between the 3-day filter and brown filter random support.
Price is pushing down from the pink filter ;- random resistance, and from a higher 4hour timeframe.
Long 6515
Stops 6505
now everything about going long is against me using the patterns, as describe.
It probably has much more chance of going higher from a lower 4 hour bar and rising upwards confirmed with a break of the 3-day filter....
or either using the brown filter as support from 3pm, or a lower spiral point rejection pattern.
high risk trade:-- looking to partial exit @ 6542 and hold....
For a 10 pip stop the risk-reward is warranted, if price breaks higher as price could go as high as Thursday's channel highs @ 6660-91
But i'll probably get stopped out.