- D leg completion at 0.7326 -
Price is now approaching the B leg between 0.7184 & 0.7204.
If price can break beyond this B leg there is a strong probability we will get a D leg completion Friday/Monday.
Although advanced and are based purely of price action , we always should be cognizant of the US data which will be released tomorrow afternoon.
Potential targets are placed at the .382% and .618% retracement of the C to D move.
Stop loss has been placed above X leg .
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With this pattern the structure is important, but there is also Fibonacci confluence along with other indicators that I take into account.
I may not trade this pattern myself yet, it will all depend on how price respects these certain levels.
My opinion is that you are forcing the structure to fit, although I do not have an alternative to give you. Let me put it this way; when you draw these structures there is usually a small degree of error and deviation allowed which represents the approximate forms. With this big candle we can't move the A point at all and the whole structure relies on that one point being accurate.
I do think you are right with the price movement due to the other data, and I am shorting AUDUSD.