Instead of waiting for the full retracement to the green line, I believe now that we will chop until the red and yellow moving averages converge (aligning our trade idea with the time til FOMC decision). I recommend not entering any trades until this convergence.
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Looks like our short case failed.
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I may have jumped the gun with that last update... The candle breakout was false and our short play is still in tact.
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Price is bouncing downwards... very possible we can revisit February lows.
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Expect to chop until tmrw before further drop. Protect your profits with stops.