AUD Monthly and Weekly cycles
What would look bullish again would be a formation of a Weekly HOOK pattern.
That is when price moves down into Tuesday's 5-day lows, forms support, and
the day closes back above the daily & weekly 50% levels. Weekly HOOK
When that happens, the rest of the current week normally continues to trend
towards higher highs by Friday.
AUD Weekly and Daily cycles
We nearly have the makings of a Weekly HOOK pattern, we just don't have
the confirming close above the daily 50% levels and Weekly 50% level.....
Therefore I can't be as bullish (higher highs by Friday and then Monday next
week) without that close.
However, the daily 50% level (@11am) will now be the trend guide for
Wednesday, and that continuation upwards might still happen
SPI Monthly & Weekly cycles (Autralian Stock Market)
As a footnote I also mentioned the possibility that if it breaks Support it
will continue down into the 2nd Quarterly 50% level (Yellow), which has always
been my overall support zone.
Because what we notice using past history to define probable future moves is....
the break of support often occur during the month of MAY, extend down into
lower lows (JUNE/JULY) and then find support.
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