DislikedAmic, please, tell me do you mean midpoind of Daily candle? So, if Daily candle closes higher than the midpoint of previous Daily candle it means that price has intension to go up the next day? Thank you,Ignored
On the charts I posted above for au and eu when I was saying midpoint I was meaning the green dotted line on the centre of the charts. The charts are 4hr bars and each set of green lines represents a day based on gmt time. The idea of the charts is that price will spens its time rotating from the midpoints to the highs and back to the midpoints again, but as long as it is above the midpoint then it is bullish, a 4hr close below opens up the downside.
For example au is moving back to test the midpoint, it should hit Wednesdays level which is 9808 currently. If my thinking is right that this pair is bullish then once it is hit price should continue to move up for the rest of the week. If there is a 4hr close below then this is probably not going to happen.