Reviewing the Aussie.

Good evening Dynamic Traders,

Tonight I am going to review the Aussie from last nights post as a shorting opportunity did not arise but instead we got a push up through the Australian Dollar positive news.

However as I write this the last completed candle on the 4 hour timeframe chart below looks to be a triple top that missed the V.I. by 3 pips. Nothing much has altered from last evenings blog in regard to the set up forming but is in a much stronger position for an aggressive trade South as more confluences are coming together. In fact as I write I am going to enter this trade off my 15 minute timeframe now.
Price action today has revisited the breather level again which did offer resistance once again.

More confluences are in evidence now so I will leave you to find them for yourselves whilst doing your own analysis. A good result from last nights analysis is that we waited till after the news of last night as it was not in as good a position but as mentioned earlier in this write up things are better and so I am now in the trade.

My next update will be on Monday evening so I hope you all have a fantastic Fridays trading and a great weekend.

Charts courtesy of TradeStation.

Good luck.

Clayton Farnworth.