AUD Weekly and 3-day pattern. 9.20amBias this week is to continue higher and head towards the January highs, as per Weekly report.
No probability on Wednesday.
Random resistance the Weekly highs, but there is a good chance that AUD could continue towards the January highs without stalling this week.
If shorting intra-day patterns take quick profits towards the blue filter
EURO WEEKLY and 3-day pattern.I was looking for a 'sell' pattern on Tuesday to come back to retest the 5-day 50% level and short trade down, but instead price continued down into the Weekly lows....
"The ideal set-up would be to push down into the January's 50% level and then continue higher using a 3-day pattern set-up.
Note:- often these patterns can also move back down into the 3-week lows, bounce off those lows and then set-up a higher move using HOOK patterns above the monthly 50% levels" Previou Weekly Report
The Euro has completed the move down into the Weekly lows and now I'm looking for move towards the January highs, as per Weekly report.
Firstly we need to see a Daily HOOK bar over the January 50% levels.
There can be two patterns that play out....
This week swings off the Weekly lows and continues higher.....or this week moves into a stalling pattern and the new UP trends begins from the start of next week.
I don't know which will occur, but this down move has completed the pattern that I wanted to see before any higher move this month occurs. (read the Weekly report)
GBP Weekly and 3-day patternMy view on GBP is to continue lower in January, but first I wanted to see a move up towards the Weekly 50% level before any down trend continued.
The ideal set-up was:- a higher daily close on Tuesday and then look for a 'sell' pattern on Wednesday.
The only problem is.... Tuesday moved higher than expected resulting in a 3-day breakout pattern, which doesn't favour a 'sell' pattern.
The only short-term sell pattern would be a move up into Wednesday's highs and reverse back down into the 5-day 50% level, as this pattern would be part of retesting the 3-day break from Tuesday, which aligns with the 5-day 50% level.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
