Highlighted are some merged candles for higher time frames price action, fibonacci retracement levels plotted for the bullish move started at the highlighted price action signal on the left and ended at the reversal pin bar up.
if 76.4% level holds it is a bullish outlook .. currently the market is giving an uncertainty signal (low interest of going below...
Price Action concept here is based on merging open of first bar of the region with close of last bar take the highest and the lowest prices and check if it matches a pattern.
Here is matches a Bullish Pinocchio Bar and a Bearish Pinocchio Bar, means we are consolidating and a breakout trade would suite the situation one cancels the other.
Or wait for breakout...