The measurements for a valid are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
PRZ: Once completing the D leg at 85.200 I can see price starting to stall out before making a move to the downside.
Take Profit: My first take profit zone will be in line with our B point at 82.150, the second take profit will be at our C point around 79.800 which is a key level of support.
We will see how this plays out, as you can see from the 4h chart below the pair has been down trending from some time with huge swings in the market. In order for our to be a valid pattern we need to break this driving prices up into the 85.000 area!
As always feel free to leave any additional analysis :)
Join my Telegram Channel: https://t.me/SixFigureCapital