UNDER THE CIPHER LENS

Tendency: Downtrend ( Bearish )
Structure: Harmonic | Cypher
Observation: i. i. Point B retracement of the primary XA leg lies at an approximate of 0.618.
ii. Point C falls within the 1.272/1.414 projection of the primary XA leg.
iii. 0.786 retracement of XC @ 1.34000 zone confirms completion of the harmonic pattern.
iv. Price rejects Resistance Trendline each time it strikes the zone confirming downtrend tendencies.
v. Price below Moving Averages.
Trading plan: SELL possibility with a minimum potential profit of 700 pips.
Risk/Reward: 1/4
Potential Duration: 20 to 30 days

Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.


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