Structure that fails

The last market is the Australian dollar against the US dollar, symbol AUDUSD.

Two hours of nothing

For the first part of the session there was no structure to read.

No clean swing highs, no clean swing lows, just overlapping candles. Module 6 defines a swing point as a candle sticking out past both neighbours, and there were almost none.

A chart with no swing points has nothing on it for your rules to act on.

Then it moved

Later in the morning price traded down and took the London session low at 0.6588.