We will look for a bullish reversal pattern on the smaller chart timeframes at D Fib 1.27 Ext.of XA.
If the price breaks out and makes H4 Closings below 0.97500, the pair is likely to test 0.96500.
Deep Crab would be completed and we will look for a Long opportunity.
Entry Notification will be sent to members.
USDCAD has broken its H4 rising trendline following completion of a bearish deep crab pattern and could reach 38.2% retracement of 1Oct low to 14Nov High around 1.3080.
Moreover, WTI has found support at 54.87, near 200-week EMA and 61.8% retracement of Jun2017 low to Oct2018 high.
On a longer-term view, I think the pair can even go to 1.2700 in a few months...
My contribution:
BUY BUY BUY!!!!!
Enter to the DeepCrab (didnt draw it)
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Educational only (Na, this time is a BUY)
GoodTrade
-CJ-
Confirmations for Deep Crab Pattern:
A-B leg can retrace anywhere between 0.382 up to 0.618
B-C leg can retrace 0.382-0.886 of AB leg
C-D is an extension of up to 1.618 of XA leg
Take profits at 0.382 and 0.618 (Fibonacci D-C).
Confirmations for Cypher Pattern:
- A to B must touch 0.382 but cannot exceed 0.618
- B to C must touch 1.272 but cannot close...
Im considering entering if price closes above daily support which price is currently above of. If price is true to its support this is going to hold our long positions.
4HR XABCD Deep Crab Pattern
- In Price Rejection Zone (PRZ) which was found by using the Fibonacci Expansion tool to make an ABA & AXA expansion.
To do so,
1. Find the Fibonacci Expansion tool.
2. Start at the A point of the Deep Crab Pattern, click; then to the B point, click; then back up to the A point, Click.
-It is the same process for AXA expansion, but...
BABA Deep crab pattern aligns with the red resistance line. See 209 before earnings on Feb 1st. Jeffries upgrade to 240 and GOOGL/BABA collaboration on re-opening google maps in china could provide the momentum
Spotted this pattern with my community members after the earlier short on the H1 charts.
I believe that the yen pairs are more ready to fall next week.
Evidence also in the NZDJPY and GBPJPY charts
