Forex 16:00 AUD, EURO, GBP4 hour push down and 3pm rising up from support, hopefully by this 4 hour period into 7pm prices are trading around the 3-day filters (yellow)
Daily HOOK patterns over the Weekly 50% levels have random lengths:-
Remember back in the last week of December especially the EURO.
Currencies rallied into a higher Friday close, and the Euro didn't look back the following week
That means we expect Friday to close higher, but we don't know how high price
will go, or whether the next 3-days consolidate.
So basically if you are long:- decided to go long on Tuesday at the 5-day
50% level or went today you have a number of options.
You would hold and partial exit the Wednesday highs or the 3-day filter highs in each currency, run breakeven stops from entry or below the 5-day 50% levels and see where Friday closes.
If it breaks out of Wednesday (5-day high) then continue to hold into Friday.
This is the only conclusion I can make based on 3 different patterns...
1. Last Week of the month rotating back towards next Months 50% level
2. Daily HOOK bar over the Weekly 50% level.
3:- bounce off the 5-day 50% level the next day.
