Tendency: Downtrend ( )
Structure: Reversal pattern | |
Observation: i. Since July 2020, price action has been caught within a channel of .
ii. The appearance of a Reversal pattern since price hits Y117.500 has given rise to a risk of further decline in the coming week(s).
iii. I shall be expecting a significant Breakdown of Key level @ Y116.400 (Neckline) for a signal this week.
Trading plan: SELL confirmation with a minimum potential profit of 200 pips.
Potential Duration: 5 to 10 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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Past performance is not necessarily indicative of future results.