AUD 18:30AUD has reversed down from the 3-day filter, and if it follows the view of lower prices hopefully it can break Wednesday's lows and continue down...
Partial exit @ the pink filter @ .6415 + 102
And hold.
As long as price remains below the 5-day 50% level then either AUD can break Wednesday's lows, or find support and then follow another down move on Thursday.
The reason for these updates today were just to highlight that even though we all like to use certain intraday filters or other methods such as mechanical systems, we must all still try and understand price action.
We must learn to read price activity around levels of support & resistance. We must be able to perceive when a trend is healthy and when it's not. Trading is not a science and CANNOT be hard-coded for sustain profitability.
We must understand that we ought to become an actual trader and 'CHART' reader using principles (text book patterns), as opposed to just an indicator follower.
There are some that can grasp certain ideas far quicker and easier than others, but hopefully over time those things become second nature to you.
