Price has found resistance in a large quarter point and psychological number of 1.625000. As we can see as well, this correlates with a large macro cycle being finished and made a large M formation between last week and this week. Im looking to enter this coming days as midweek reversal and hold for a long term cycle down for a good 500 pips potentially.
Confirmations:
- divergence on TDI on 4h with first leg above band and second band below liquid 50
- macro cycle has finished and holding current price
- price has finished quarter cycle and held position on 1.62500 and has never past it or made a new high
- price made a new higher low but struggles to make a new higher high and consolidates below the high
- AUD pairs seem to be having a bit of consolidation across the board.
Confirmations:
- divergence on TDI on 4h with first leg above band and second band below liquid 50
- macro cycle has finished and holding current price
- price has finished quarter cycle and held position on 1.62500 and has never past it or made a new high
- price made a new higher low but struggles to make a new higher high and consolidates below the high
- AUD pairs seem to be having a bit of consolidation across the board.