- Price Action currently is in consolidation but still holds Sentiment
- Pattern forming. Probably short-term move within greater
- Bounds of structural zone is based off , which matches the 0.5 and of the larger swing low to swing high move (zoom out of chart to see it).
- Fib cluster (1.414 AB extension, 2.0 BC extension, 1.618 extensions of other swing low to swing highs) found in agreement with the 1.272 XA extension
- Consolidation zone doesn’t touch 0.382 extension. May see a drop, but to keep sentiment, with a possible reversal at 0.711 - 0.712
- Pattern found to match with Pattern and Fib Cluster.
- Case 1: Price action breaks from the consolidation zone and goes up to pattern completion at 0.718, then drops down to retest at the top part of the consolidation zone.
- Case 2: Price action breaks to the down side of the consolidation zone. Still keeping our mindset short-term , price action can bounce off of structure at 0.711 - 0.712 and continue up to pattern completion.
The break is probably from the Sydney Market opening.
A good trade but with the bank decision coming out in 30 minutes I would rather stay out and preserve my capital rather than gamble and possibly lose to the point that my stop would be triggered below my stop-loss.