$CADJPY | Possible Geo Formation | Targets Defined

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

Kommentera:

UPDATE: AB=CD now points to the high probability target

Be weary of the medium probability target as well.

Best,
Chartistry

Kommentera:

Targets remain in force.

Kommentera:

High and Medium Probability target's hit. Internal ab=cd pattern is nullified. Waiting for further confirmation for point 4 creation.

Best,
Chartistry