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EUR/USD Bearish Deep Crab

Short
Euro / U.S. Dollar (FX_IDC:EURUSD)  
JustBusiness Updated   
FX_IDC:EURUSD   Euro / U.S. Dollar
Harmonic Patterns Crab Fibonacci Retracement EURUSD Deep Crab
12
0
harmonicpatterns crabpattern fibonacciretracement eurusd deepcrab
Greetings fellow traders, today we are analyzing the EUR/USD 4hr chart, looking at a potential Bearish Deep Crab Pattern.

The pattern is in the C to D leg, with an almost 1:3 risk to reward.

The measurements for a deep crab pattern are detailed below:

B: 0.886
C: 0.386 - 0.886
D: 2.24 - 3.618
X to D: 1.618

Please share your thoughts!
Comment:
Greetings fellow traders, it seems the C to D leg was completed quite quickly. We need to look for a reversal candle as we are in the PRZ, and I recommend reviewing the 60 or 240 charts.

Our confluence is looking nice with a high RSI, hitting an ATH, hitting the Fibonacci targets, and finally completing the Deep Crab Pattern.

Be careful buying without a reversal indicator since there has not been any resistance at this level since mid 2000s, so it is possible the EUR/USD can still climb.

Let's collect those 150 pips!!
Comment:
Trade did not activate since there was no reversal around the PRZ, the EUR is so strong lately, it seems that technical harmonic patterns cannot influence it, haha.
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