the All ordinaries never hit the target SELL pattern and this PATTERN is still valid. the zone of 5760-5835 is the key w/ the old realiable .786 retrace up at 6060 the highest it “should” go if the SELL PATTERN is valid. As you know we NEVER know which one works or doesn’t …
what makes this particularly relevant, in my HUMBLED opinion is it’s correlation to the AUDJPY and the VERY interesting PATTERN that is appearing w/ regards to the AUDJPY. For a review, here is the pattern on the All Ordinaries:
here’s the importance of the AUDJPY and the All Ordinaries …
so we have a SELL PATTERN on the All Ordinaries so that “should” cause the YEN to strengthen against the AUSSIE .. ONE PERCENT OPPOSITE OF THE INTERVENTION WHICH TOOK PLACE ON FRIDAY! as you well know, I know NOTHING about the fundamentals behind this move. And I don’t care … but IF the All Ordinaries SELL works THEN historically speaking the PATTERNS and CHARTS tell us the YEN will strengthen against the Aussie …here’s the charts:
look at this MIRROR IMAGE foldback …
here’s the PATTERN, again, on the AUDJPY …
