Throwing this open to the charting people and any remarks they may have on what appears to me to be a clear outside reversal day for AUD/USD:
I stuck an arrow on it so there is no doubt which day I am referring to (if you are new to T/A):
What Is an Outside Reversal?
An outside reversal is a price pattern that indicates a potential change in trend on a price chart. The two-day pattern is observed when a security’s high and low prices for the day exceed the high and low of the previous day’s trading session. Outside reversal is also known as either a bullish engulfing (after a downward price move) or a bearish engulfing pattern (after an upward price move) when observed on candlestick charts.
Tech A people, what say you?
This article was originally published by Forexlive.com. Read the original article here.