Tendency: Downtrend ( )
Structure: Retracement | | (AB = CD expectations)
Observation: i. Inability of Price to break above Y117.500 in Aug & Sep 2020 has led to a Reversal pattern that points down.
ii. is sighted with parameters explained below;
a. Impulse A-to-B will be in harmony with the potential C-to-D leg.
b. The B- to-C leg is at 61.8% of the A-to-B leg.
c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move.
Trading plan: SELL confirmation with a minimum potential profit of 350pips.
Potential Duration: 10 to 20 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
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