Note: As market price unfolds, chart becomes clear. Here my AU market analysis is based on Price action, Market structure, Elliot wave principle and Fibonacci retracement. PRICE ACTION; market price is currently in a strong zone of supply from my view. MARKET STRUCTURE; price has for potential reversal patterns, market is in gradual distribution with price sliding down in a down trend forming lower highs and lower lows. ELLIOT WAVE PRINCIPLE; price currently forming a complex ABC corrective structure. already an ABC has unfolded, I expect another ABC correction. FIBONACCI RETRACEMENT the fib will guide to know where the new wave will be exhausted. I expect it around 68.10%, 78.60% fib level. If this is achieved then a lower higher will surface, giving a Sell opportunity. TRADE WITH PROPER RISK MANAGEMENT
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