AUD monthly and daily range
AUD currently stalled around the October highs @ 9979, and I would have
preferred Thursday to have moved down further and be trading around
.9840 (#3) then where it is now.
Trend guide for the next 12 hours as shown in the right chart
@ .9945/54.
As mentioned two days ago… “at this stage I
would focus on 41 to 85 pip ranges”
What we can see in the bottom chart is a 85 pip reversal from the highs in the left chart on Thursday, but as the trend is reversing down we have.... (right chart)
41 pip spiral tops occurring providing traders with amply opportunities of getting back into the trend (if you were screen trading overnight)
The idea is to find ‘observed phenomena’ and use it to your advantage
once the parameters align:- sell higher opens using resistance & buy
lower opens using support, whilst optimizing the daily price action within
the larger timeframe cycles.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
