AUD Weekly and 3-day pattern
AUD Weekly and 3-day pattern.
Expectation of further weakness down finally failed with a cross-over of the 3-day filter.
3-day filter is the trend guide on Friday, but I won’t have a probability pattern until this week ends and next week begins.
Simple because the AUD can continue higher or follow a consolidating Weekly pattern of daily bars that close in the opposite direction of each other :- lower Daily close.
Euro Weekly and 3-day pattern.
Yesterday’s set-up was to trade longs above the 3-day filter (below the 5-day 50% level), but once above the 5-day 50% level it completed the move into the 5-day highs and stalling.
Around these levels I have major resistance, but it wouldn’t surprise me to see a higher close on Friday back into the Weekly 50% levels.
But the only way I would trade that would be for the Euro to makes its way back down into the 3-day filter on Friday:- rnadom support.
GBP Weekly and 3-day pattern.
GBP had reached the April 50% level so there was an expectation that price would reverse upwards…
But that could be confirmed until there was a move above the 5-day 50% level.
If GBP is going to continue higher then price should remain above the 5-day 50% level, but the next probability pattern won’t be until next week begins.
Simply because it's a higher daily close and trading around the Weekly 50% level could result in a down day.
That's been the pattern this week:- daily closes in the opposite direction of the open.
