This is the Price action I wanted to see Yesterday....there hasn't been a break of the 3-day lows, but if price is going to continue down on Friday, it will be from the 5-day 50% level....with next Week's 50% level once again the trend guide...
Certain things need to be verified for any reveral back down, but keep in mind the June 50% level will be the trend guide on any continuation of higher prices next month.
For those who want to trade AUD actively, but don't want to rely on my report, I have updated a section in 'Trader Set'.
To help you set up your charts, as I've introduced a new 'Time and Spiral' filter for AUD/USD only.
http://thetraderset.blogspot.com/2008/05/forex-audusd.html
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