Disliked{quote} The AUDCHF does look interesting but isn't there a nearby trouble area? {image}Ignored
Just to add to what Aser said,
We've been talking about that consolidation box above the HHR. We've seen how price has been holding up at that HHR perfectly despite various tests (i.e no 4H bar close below the HHR until now when we have broken out of it). Now that we have closed below, does it make sense for price to find support off of that same period of former resistance and move right back into that consolidation box above the HHR all over again?
Simply put, price will normally look to take the path of least resistance, and I am not sure what would motivate buyers to want to come in at that FTA you pointed out to take price back into that tight consolidation box.
g.
I believe . . .