darcsherry
Long

USDCNH IN A HARMONY!

FX:USDCNH   U.S. Dollar/Chinese Yuan
The months of the Greenback are numbered as USD racks up a few more gains in anticipation of a fall!

Tendency: Uptrend followed by Donwtrend ( Bearish )
Structure: Channel | Harmonic (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% Fibonacci retracement 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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Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by Nirvana Trades & Investments for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Comments

nicely done ides
+1 Reply
darcsherry DaweFXHunter
@DaweFXHunter, Thank you
Reply
Thanks. Keep us posted,
+1 Reply
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