Tendency: Uptrend followed by Donwtrend ( )
Structure: Channel | (AB = CD)
Observation: I. Price forms an Ascending it channel as it runs into a harmony - AB = CD pattern
ii. Impulse A-to-B to be in harmony with the B-to-C leg.
iii . The B- to-C leg is at 78.6% of the A-to-B leg.
iv. The C-to-D leg is expected to fall within 127.2% - 141.4% Fib. ext. of the A-to-B move.
Trading plan: BUY/SELL opportunity depending on structure with minimum potential profit @ 7,000 pips.
Risk/Reward: Subject to point of entry.
Potential Duration: Minimum of 10 months
NB: This is a long term trade and could be used as a guide for your analysis on the lower time frame.
Watch this space or Telegram channel for updates as price action is been monitored.
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