However, the RBA decided not to cut the rate recently. And sure enough, the market failed to continu its path to the north. (see note 2 on the chart). So if the market is in doubt to head further north, it should be consolidating. If it is consolidating, it could setup some nice as long as the price does not violate point X and point A yet.
With that in mind a pattern is still valid. And now with a distinct ABC has taken place, a completion of the line up very well with that same PRZ. So I've added another completion point to the PRZ. Now my PRZ is defined with the following:
a 0.236 retracement at 1.8694 (2013-03)
a 0.5 retracement at 1.8618 (2014-09)
a at 1.8685 (2014-11)
a at 1.8700 (2015-01)
a at 1.8532 (completion )
a of move BC at 1.8500 of the (completion of the with Akil Stokes method. Not Carney's)
This gives me a zone of 200 pips. However, if i'm taking a shot to go long I would prefer the completion of the patterns as my entry point.