Morning G,
I agree mostly. To my eyes, a lot of pairs are showing a lot of conflicting signals in terms of PA, S/R and TLs.
One i have my eye on is AUDUSD (daily chart below). The big boss is showing a series of HH, HL, as is the boss. While last weeks bar has retraced to 61 Fib of the previous week, overall trend is still up.
To my mind, it gets a little more interesting on the daily, where price broke through an upper TL which has been resistance since October 2008. It might have printed a BEEB on Friday but if the TL can prove itself as support, i will be looking for PA to go long.
Unfortunately there is a key level not far above at 0.79500, so if price does go, i would expect it to stall here.
I agree mostly. To my eyes, a lot of pairs are showing a lot of conflicting signals in terms of PA, S/R and TLs.
One i have my eye on is AUDUSD (daily chart below). The big boss is showing a series of HH, HL, as is the boss. While last weeks bar has retraced to 61 Fib of the previous week, overall trend is still up.
To my mind, it gets a little more interesting on the daily, where price broke through an upper TL which has been resistance since October 2008. It might have printed a BEEB on Friday but if the TL can prove itself as support, i will be looking for PA to go long.
Unfortunately there is a key level not far above at 0.79500, so if price does go, i would expect it to stall here.