The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

 

The March Australian Dollar has fired 2 Day ROC Sell, Low Range Close, and Momentum Pinball Buy signals for today's trading. The 2 Day ROC Sell signal implies that today's principal trade direction should be to the downside. The Low Range Close signal tells us that yesterday's late day weakness should carry on through to this morning's trading. The Momentum Pinball Buy signal suggests that IF the first hour's high happens to be broken, the market is telling us something completely different than originally assessed, and we'd want to consider a long position. Cycle Indicators (chart at right) are mixed, but the more immediate trend is to lower prices. Odds favor further downside in today's early trading. Look for an opportunity to sell the break of yesterday's 1.0265 low with a stop just above the 1.0306 Daily Pivot. Price weakness below the DP may provide clues for earlier entry. The Momentum Pinball Buy signal tells us to change our bias to the upside on a break of the first hour high.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.