I am not in the trade yet, since thhe pattern has both characteristics, that of a bat and that of a crab. If it's a Bearish Bat, I'll be waiting for thhe break of the blue full trend and my target will be the dotted trend. But, in thhe case of a break above the Resistannce level in blue. I'm expectinnng a Bearish Crab Formation before shorting. Trade with care (...
After breaking the uptrend, a retrace to 61% is likely to happen and then it may validate the deep crab pattern and continue its downtrend. Good luck.
XAUUSD short scalp 15 momentum down Previous support/resistance level break-test Pin bar rejection Closing below low gives us momentum advance
Strong level pullback test Pullback in/between MA50;MA200 Daily momentum down 4H trading below MA50 1H momentum down 15M momentum down Pin bar rejection of support/resistance level Pin bar rejection of a trend line
Strong rally to previous Supprot/Resistance Strong pin bar + closing below bar`s low. Trend line rejection Daily pivot R1 rejection 61.8% Fib retracement 15m momentum down Taking profit at 50% retracement level of the rally
5m chart scalp Round number rejection Daily momentum down 1H momentum down 15m momentum down MA50 rejection on 15m chart MA200 rejection on 5m chart Trend line rejection Slowing down , pin bar and engulfing on 5m Enter 1:1