AUD Weekly and 3-day patternFlat trading on Monday day with the public holiday in the US.
3-day filter is random resistance, but based on the price action so far it's not a higher probability pattern.
The 5-day 50% level could push the market lower, but with the lower weekly open the ideal pattern would be to see currencies move up towards their 5-day highs and then enter shorts around those levels @ .6638
Euro Weekly and 3-day pattern.
No probability pattern to trade the Euro on Tuesday, but whilst it's above the blue filter then price should rise back into the 3-day filter.
The 3-day filter is random resistance over a single 4 hour period.....
But as pointed out in the AUD thread, it would best to short trade the Euro around the 5-day highs:- green channel tops.
GBP Weekly and 3-day pattern
Is that a Weekly HOOK pattern, or about to begin a Weekly rejection pattern from a higher Daily open....
That is simply going to be defined by the 3-day filter.
A weekly HOOK pattern would be a move above the 3-day filter and expectation price is heading towards the 5-day highs.
A rejection pattern would need to be trading below the 3-day blue filter @ 1.4220, which makes it hard to favour the rejection pattern on Tuesday at this stage other than a 4 hour push down into 1.4220
