- Price is currently sitting on my D Level of support
- Inverted hammer pattern sitting on S
- I have Intraday Target levels for TP levels.
- Being aware of RBA Monetary Policy Statement (HIGH IMPACT NEWS) on 08/02/19
By looking at the M TF i can see that the sentiment is indicating that this market is overbought, nevertheless i can also see on the 8 TF that LH and LL are being formed which suggests that this market has a chance of going lower. My target for this trade would be 76.000 to the next support area.