The Aussies: Is this another one-candle situation?
Well, it is one candle at the leading edge. We cannot know if it means anything until stuff happens. Those who look for predictions that foretell the future are in the wrong game.
In trend-following methodologies, one would ride an escalator down or up - on a smaller time frame that that shown here (to conserve losses).
When you zoom out of this chart, you see a market struggling to stay afloat. That's usually not a good sign. The 4H ATR line is above the recent batch of ranging candles. This means there is bearish pressure in this market (on this time frame only). The bulls have lots of work to do if they wanna get above the 4H (amber) line.
The trouble for the Aussies is that they are bounced around by a) the DJI b) the USTech100 and c) US Bond markets. That's why it looks so indecisive (at this time). They are normally most scared of the USTech indices. So watch USTech as well for a steer on probabilities on lower time frames.
In trend-following methodologies, one would ride an escalator down or up - on a smaller time frame that that shown here (to conserve losses).
When you zoom out of this chart, you see a market struggling to stay afloat. That's usually not a good sign. The 4H ATR line is above the recent batch of ranging candles. This means there is bearish pressure in this market (on this time frame only). The bulls have lots of work to do if they wanna get above the 4H (amber) line.
The trouble for the Aussies is that they are bounced around by a) the DJI b) the USTech100 and c) US Bond markets. That's why it looks so indecisive (at this time). They are normally most scared of the USTech indices. So watch USTech as well for a steer on probabilities on lower time frames.
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