Hello Traders,
CADJPY is offering a move to the upside with the targets defined on the chart.
The colors mean the following:
1. Dark Red - High Probability Target, Low Probability Reversal
2. Medium Red - Medium Probability Target, Medium Probability Reversal
3. Light Red - Low Probability Target, High Probability Reversal
The internals of this possible Geo' point to 79.876 giving us a higher probability of the Medium Red target to be hit. This, in turn, would give us point 4 of the Geo, point d of the internal ab=cd pattern, and point C of the larger AB=CD pattern. From this point I expect a reversal to the downside to create point 5 (5') of the Geo and point D of the larger AB=CD pattern.
Note: I have not defined any points of the potential Geo' or the CD leg in the larger AB=CD pattern as point 4 is the trickiest point to predict.
Best,
Chartistry
CADJPY is offering a move to the upside with the targets defined on the chart. The colors mean the following:
1. Dark Red - High Probability Target, Low Probability Reversal
2. Medium Red - Medium Probability Target, Medium Probability Reversal
3. Light Red - Low Probability Target, High Probability Reversal
The internals of this possible Geo' point to 79.876 giving us a higher probability of the Medium Red target to be hit. This, in turn, would give us point 4 of the Geo, point d of the internal ab=cd pattern, and point C of the larger AB=CD pattern. From this point I expect a reversal to the downside to create point 5 (5') of the Geo and point D of the larger AB=CD pattern.
Note: I have not defined any points of the potential Geo' or the CD leg in the larger AB=CD pattern as point 4 is the trickiest point to predict.
Best,
Chartistry
Nota
UPDATE: AB=CD now points to the high probability targetBe weary of the medium probability target as well.
Best,
Chartistry
Nota
Targets remain in force.Nota
High and Medium Probability target's hit. Internal ab=cd pattern is nullified. Waiting for further confirmation for point 4 creation.
Best,
Chartistry
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.