The Loonie may hold opportunity for a short

FX:CADJPY   Canadian Dollar / Japanese Yen
High alert. The Loonie on CADJPY could be heading for an about turn.
Spot the probable channel and trend switches on this 6H chart.
Comment: There may also be an alternate ABCD in there. Contrary to popular belief, there is not just one ABCD pattern in harmonic theory, but a spread of them. They are not predictive but rather create probabilities.
Comment: Note also that price has penetrated a wide zone of investor Guppies. This creates two possibilities.
1. a powerful reversal for the north, or
2. a powerful probability for rejection in the hot zone.
What people want is prediction. Prediction is a myth.
Overall I estimate probability is greater for the south at this time (only).
Comment: Well, that didn't work. End off. Move on. :)

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