Get started
KyleMcQuade

Pound-Yen Bullish Crab

Long
British Pound / Japanese Yen (FX_IDC:GBPJPY)  
KyleMcQuade  
FX_IDC:GBPJPY   British Pound / Japanese Yen
GBP jpy pound yen Bullish Patterns Crab Harmonic Patterns pattern LONG sixfigurecapital
8
0
gbp jpy pound yen bullish crabpattern harmonicpatterns pattern long sixfigurecapital
As price here enters consolidation before breaking either support or trend line, we have a crab formation completing at 138.1 as shown on the chart on the left. The chart on the right shows overall direction and activity surrounding the support area. If price reaches the D point in the middle of said area, we will see a bounce to our TP level at 140.5. Price will continue its momentum deeper into consolidation before a break. Remember and keep risk:reward a sound 1:3.

Crab ratios
AB: 0.382-0.618
BC: 0.382-0.886
CD: 2.24-3.618
XD: 1.618

Related Ideas

KyleMcQuade
Aussie-Yen Bullish Gartley
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.