EUR/USD Bearish Deep Crab

25 août 2017

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!

26 août 2017

Note

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!!

29 août 2017

Note

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.