EverythingForex
Short

AUDUSD: Quick Trades - 2 Bearish Crabs

FX:AUDUSD   Australian Dollar / U.S. Dollar
816 5 5
Real fast. I'm a little late getting this out but there are 2 bearish crab patterns here. One is filled (blue one).

**NOTE**
"Quick Trade" posts are purely based on advanced harmonic patterns without other supporting factors. Please use your best judgement if taking these trades.

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What is your short TP for today/ intraday ? Daily pivot is at 0.74433, Do you think it may go there ?
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Sorry. I'm not sure what you are asking. Before giving an answer, I'd like to be sure what the question is. TP per the patterns I posted are on the chart. Also, although I am aware of the presence of the pivots, I don't use them in my trading. I have an opinion on pivot points but that's a discussion for another topic.
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skgogoi EverythingForex
Thanks for your reply. In the 1 H chart there were some bearish candles. Since you have also mentioned short according to your analysis, what I wanted to know is whether price would go to 0.74433 (daily pivot). As you can see price has gone up from the 0.74700 area. So will it fall down again to go to 0.74433 for an intraday trade. I am short.
Reply
Anything is possible. It could fall to 0.74433 or it could not. Only time can tell. As for the bearish candles, yes, there are some indications of bearishness there but that is what the crab pattern is also indicating. What candles don't tell you is where prices MIGHT go to. For the record, although I posted a couple of bearish crabs here, overall, I am bullish on this pair for the short-medium term outlook. See my post on a deeper analysis on this pair....
Reply
skgogoi EverythingForex
I like your long time analysis. Price will go up judging from the pin bar candles that I see on the daily chart. I am still not a long term trader but an intraday one and so expected price to go to 0.74433 on a intraday basis but SMAs are bullish. Have to be careful.
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