Trading Edges That Last
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AUDUSD Aug 24 to Aug 28 Outlook
Lawrence’s Comment
Note: Somehow the post for last week is missing from the database.
Consolidation week at 50% previous week range. Closed the week near Y-0 and below midpoint.
Outlook
3rd week in a row closing near the same price level with midpoints all near each other is compression. It can also be near equilibrium. For the first case, we need a breakout to form a trend first before we can engage. For the second case, the volatility will die down further leading to more consolidation and tight range. Wait and see for this pair until the condition changes.
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