Following break of bearish channel pair is targeting major structure level, at 1.00500, that has been respected number of times in the past. Below that level pair is potentially forming Bearish Crab pattern completing right at 1.00500. Setup is meeting my trading and risk managment rules, and will be entering this with a limit order as cab patterns tend to be...
Bearish Crab Pattern
GBP/JPY is still bullish overall, however, it is a little
overbought on the lower time frames. If you take a look at
the RSI indicator you will notice that the bullish trend line
has been broken.
The candle on the chart which correlates
with the break of the RSI trend line is highlighted by the blue
vertical line, hence, a sustained close...
DXY Bearish Crab vs Bullish Alt Crab Pattern
Currently price is battling for dominance between two
'crustacean's' i.e. a bearish crab and an Alt bullish crab
At the moment, looking at the close of this months candle it
seems clear that price is ready to dive lower and resume
the bearish trend that has been in tact since the end of
A risky, but potentially lucrative long opportunity for
GBP/USD with the help of a bullish Deep Crab Pattern.
Obviously at this stage with all the uncertainties surrounding
the Brexit negotiations, it is rather risky to trade any pair
with GBP. However, GBP/USD has reached extremely
oversold territory on nearly all the time frames, especially
the daily time...
Another one of my trades set ups..
Multiple reasons to enter the trade.. We have a daily bullisi divergence followed by a bull divergence on the 4hrs.. I beleive a harmonic pattern couldn't set up on the 1HR - crab. so i'm long till then.. extended target set at 161.8 fib extensions